MAI Capital Management Sells 438,905 Shares of Cardiff Oncology, Inc. $CRDF

MAI Capital Management cut its holdings in shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) by 86.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,292 shares of the company’s stock after selling 438,905 shares during the period. MAI Capital Management owned 0.10% of Cardiff Oncology worth $137,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Jeppson Wealth Management LLC purchased a new stake in Cardiff Oncology during the third quarter worth $25,000. Engineers Gate Manager LP bought a new position in shares of Cardiff Oncology in the 2nd quarter worth $43,000. Readystate Asset Management LP bought a new position in shares of Cardiff Oncology in the 3rd quarter worth $43,000. Post Resch Tallon Group Inc. purchased a new stake in shares of Cardiff Oncology during the 3rd quarter worth $46,000. Finally, Lido Advisors LLC bought a new stake in Cardiff Oncology during the second quarter valued at about $47,000. Institutional investors own 16.29% of the company’s stock.

Cardiff Oncology Stock Up 4.8%

CRDF opened at $1.98 on Thursday. The company has a market cap of $135.35 million, a P/E ratio of -2.87 and a beta of 1.32. The firm’s 50-day moving average price is $2.26 and its 200-day moving average price is $2.24. Cardiff Oncology, Inc. has a 52-week low of $1.48 and a 52-week high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last released its earnings results on Tuesday, February 24th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. Cardiff Oncology had a negative net margin of 7,733.22% and a negative return on equity of 82.01%. The company had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.13 million. On average, research analysts anticipate that Cardiff Oncology, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRDF. Piper Sandler reduced their target price on shares of Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Wall Street Zen raised shares of Cardiff Oncology from a “sell” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Noble Financial began coverage on shares of Cardiff Oncology in a research note on Monday, January 5th. They issued an “outperform” rating and a $12.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cardiff Oncology in a report on Wednesday, January 28th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.10.

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.