Rafael (NYSE:RFL) Shares Up 4.6% - Here's What Happened

Key Points

• Rafael shares rose 4.6% in mid-day trading, reaching $1.94 before last trading at $1.8940, on volume below its average.
• Analyst sentiment remains negative: Rafael has an average “Sell” rating, despite one firm upgrading the stock to “Hold.”
• Several hedge funds increased or initiated positions, but institutional investors collectively own only 11.3% of the company; Rafael’s lead drug candidate, CPI-613, remains in Phase III trials for cancer treatments.

Rafael Holdings, Inc. (NYSE:RFL - Get Free Report)'s share price traded up 4.6% during mid-day trading on Thursday . The stock traded as high as $1.94 and last traded at $1.8940. Approximately 79,259 shares were traded during trading, a decline of 17% from the average daily volume of 95,924 shares. The stock had previously closed at $1.81.

Analyst Ratings Changes

A number of analysts have weighed in on RFL shares. Wall Street Zen upgraded shares of Rafael to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings upgraded Rafael from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rafael currently has an average rating of "Sell".

Rafael Stock Up 4.6%

The company has a 50 day moving average price of $2.36 and a 200-day moving average price of $1.69. The company has a market cap of $98.49 million, a price-to-earnings ratio of -2.79 and a beta of 0.33.

Hedge Funds Weigh In On Rafael

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new stake in shares of Rafael in the second quarter worth $50,000. Renaissance Technologies LLC lifted its holdings in Rafael by 59.1% during the 1st quarter. Renaissance Technologies LLC now owns 89,138 shares of the company's stock worth $111,000 after buying an additional 33,111 shares during the period. Citadel Advisors LLC lifted its holdings in Rafael by 132.3% during the 3rd quarter. Citadel Advisors LLC now owns 72,584 shares of the company's stock worth $99,000 after buying an additional 41,335 shares during the period. Kahn Brothers Group Inc. bought a new stake in shares of Rafael in the 2nd quarter valued at about $73,196,000. Finally, Geode Capital Management LLC increased its stake in shares of Rafael by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 445,866 shares of the company's stock valued at $526,000 after buying an additional 90,417 shares during the period. Institutional investors and hedge funds own 11.30% of the company's stock.

Rafael Company Profile

Rafael Holdings, Inc primarily engages in holding interests in clinical and early-stage pharmaceutical companies, and commercial real estate assets in the United States and Israel. It operates in two segments, Healthcare and Real Estate. The company engages in the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells. Its lead drug candidate is CPI-613 (devimistat), currently under Phase III clinical study for the treatment of metastatic pancreatic cancer and acute myeloid leukemia.

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