Cardiff Oncology, Inc. (NASDAQ:CRDF) Receives Consensus Rating of “Hold” from Brokerages

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.50.

Several equities research analysts recently commented on CRDF shares. TD Cowen cut Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings cut shares of Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright cut shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday, June 1st. Finally, Craig Hallum downgraded shares of Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research report on Wednesday, June 3rd.

Insiders Place Their Bets

In other news, Director Gary W. Pace purchased 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, with a total value of $36,600.00. Following the acquisition, the director directly owned 1,356,376 shares of the company’s stock, valued at $1,654,778.72. This represents a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mani Mohindru purchased 24,703 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average price of $1.21 per share, for a total transaction of $29,890.63. Following the completion of the purchase, the chief executive officer owned 24,703 shares in the company, valued at approximately $29,890.63. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cardiff Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Wealth Management LLC bought a new position in shares of Cardiff Oncology in the 4th quarter worth approximately $30,000. Tamar Securities LLC bought a new stake in Cardiff Oncology during the fourth quarter valued at approximately $32,000. Brooklyn Investment Group purchased a new stake in Cardiff Oncology during the third quarter valued at approximately $26,000. R Squared Ltd bought a new position in Cardiff Oncology in the fourth quarter worth approximately $36,000. Finally, Engineers Gate Manager LP bought a new position in Cardiff Oncology in the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

Cardiff Oncology Price Performance

NASDAQ CRDF traded up $0.02 during mid-day trading on Thursday, reaching $0.83. The stock had a trading volume of 55,526 shares, compared to its average volume of 1,225,036. The stock has a market cap of $57.13 million, a PE ratio of -1.24 and a beta of 1.44. Cardiff Oncology has a 1 year low of $0.76 and a 1 year high of $3.31. The company has a fifty day moving average price of $1.31 and a 200 day moving average price of $1.67.

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

Cardiff Oncology Company Profile

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.