Analysts Set Cardiff Oncology, Inc. (NASDAQ:CRDF) PT at $7.50

Cardiff Oncology, Inc. (NASDAQ:CRDF) has been assigned an average rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.50.

Several research firms have issued reports on CRDF. Wall Street Zen lowered Cardiff Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. William Blair cut shares of Cardiff Oncology from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. TD Cowen downgraded shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. HC Wainwright cut shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. Finally, Weiss Ratings downgraded shares of Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th.

Cardiff Oncology Price Performance

Shares of CRDF stock opened at $0.94 on Monday. The firm has a market cap of $73.12 million, a price-to-earnings ratio of -1.57 and a beta of 1.50. Cardiff Oncology has a 52-week low of $0.76 and a 52-week high of $3.31. The company’s 50 day moving average is $1.04 and its 200 day moving average is $1.45.

Cardiff Oncology (NASDAQ:CRDF) last announced its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Cardiff Oncology had a negative net margin of 7,885.43% and a negative return on equity of 103.10%. The company had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.06 million. Analysts anticipate that Cardiff Oncology will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gary W. Pace purchased 30,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were acquired at an average price of $1.22 per share, for a total transaction of $36,600.00. Following the purchase, the director owned 1,356,376 shares of the company’s stock, valued at $1,654,778.72. This trade represents a 2.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mani Mohindru purchased 24,703 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $1.21 per share, with a total value of $29,890.63. Following the acquisition, the chief executive officer owned 24,703 shares of the company’s stock, valued at approximately $29,890.63. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 8.80% of the company’s stock.

Hedge Funds Weigh In On Cardiff Oncology

Several hedge funds have recently made changes to their positions in CRDF. Laurion Capital Management LP lifted its position in Cardiff Oncology by 7.3% during the 4th quarter. Laurion Capital Management LP now owns 2,646,738 shares of the company’s stock worth $7,437,000 after acquiring an additional 180,866 shares during the period. Acorn Capital Advisors LLC increased its holdings in shares of Cardiff Oncology by 39.3% in the third quarter. Acorn Capital Advisors LLC now owns 1,962,084 shares of the company’s stock valued at $4,042,000 after purchasing an additional 553,317 shares during the period. Geode Capital Management LLC raised its stake in shares of Cardiff Oncology by 7.5% in the second quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock worth $4,723,000 after purchasing an additional 104,409 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Cardiff Oncology during the fourth quarter worth about $3,388,000. Finally, State Street Corp lifted its holdings in shares of Cardiff Oncology by 4.0% during the fourth quarter. State Street Corp now owns 1,191,647 shares of the company’s stock worth $3,349,000 after purchasing an additional 45,288 shares during the period. 16.29% of the stock is owned by institutional investors and hedge funds.

About Cardiff Oncology

Cardiff Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts. The company is dedicated to the discovery, development and commercialization of novel small-molecule therapies designed to modulate the tumor microenvironment and enhance antitumor immune responses. By focusing on unique immuno-oncology targets, Cardiff seeks to address resistance pathways that limit the effectiveness of existing cancer treatments.

Cardiff’s pipeline comprises several small-molecule immunomodulators in various stages of preclinical and clinical development.