Cardiff Oncology, Inc. (NASDAQ:CRDF) Given Consensus Recommendation of “Hold” by Analysts

Cardiff Oncology, Inc. (NASDAQ:CRDF) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.80.

CRDF has been the subject of several recent analyst reports. HC Wainwright cut shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. TD Cowen cut shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Craig Hallum downgraded Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a report on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiff Oncology in a research report on Monday, May 18th. Finally, Wall Street Zen lowered Cardiff Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th.

Insider Buying and Selling

In other news, CEO Mani Mohindru purchased 24,703 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of $1.21 per share, with a total value of $29,890.63. Following the purchase, the chief executive officer owned 24,703 shares in the company, valued at $29,890.63. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary W. Pace bought 30,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $1.22 per share, for a total transaction of $36,600.00. Following the completion of the transaction, the director directly 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 ownership of the stock. The SEC filing for this purchase provides additional information. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cardiff Oncology

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new position in Cardiff Oncology in the fourth quarter worth $3,388,000. Laurion Capital Management LP grew its stake in Cardiff Oncology by 37.2% during the third quarter. Laurion Capital Management LP now owns 2,465,872 shares of the company’s stock valued at $5,080,000 after acquiring an additional 668,590 shares in the last quarter. Acorn Capital Advisors LLC grew its stake in Cardiff Oncology by 39.3% during the third quarter. Acorn Capital Advisors LLC now owns 1,962,084 shares of the company’s stock valued at $4,042,000 after acquiring an additional 553,317 shares in the last quarter. Millennium Management LLC increased its holdings in Cardiff Oncology by 441.5% during the 4th quarter. Millennium Management LLC now owns 194,420 shares of the company’s stock worth $546,000 after acquiring an additional 158,519 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Cardiff Oncology by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock worth $4,723,000 after acquiring an additional 104,409 shares during the period. 16.29% of the stock is currently owned by institutional investors.

Cardiff Oncology Price Performance

CRDF remained flat at $1.27 during midday trading on Friday. The company’s stock had a trading volume of 1,320,434 shares, compared to its average volume of 1,407,909. The business has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.90. Cardiff Oncology has a 52-week low of $1.16 and a 52-week high of $4.55. The firm has a market capitalization of $86.83 million, a price-to-earnings ratio of -1.90 and a beta of 1.44.

Cardiff Oncology (NASDAQ:CRDF) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.09 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. On average, equities analysts predict that Cardiff Oncology will post -0.66 EPS for the current year.

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.