Insider Buying: Cardiff Oncology (NASDAQ:CRDF) CEO Acquires 24,703 Shares

Cardiff Oncology, Inc. (NASDAQ:CRDF) CEO Mani Mohindru purchased 24,703 shares of Cardiff Oncology stock in a transaction on Thursday, June 18th. The shares were acquired at an average price of $1.21 per share, for a total transaction of $29,890.63. Following the completion of the transaction, the chief executive officer directly owned 24,703 shares of the company’s stock, valued at approximately $29,890.63. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cardiff Oncology Trading Up 10.3%

Shares of CRDF stock traded up $0.12 during trading hours on Monday, hitting $1.33. 510,986 shares of the company’s stock were exchanged, compared to its average volume of 1,109,367. The company has a market capitalization of $91.27 million, a PE ratio of -1.98 and a beta of 1.36. Cardiff Oncology, Inc. has a 12-month low of $1.16 and a 12-month high of $4.55. The business’s 50 day simple moving average is $1.63 and its 200-day simple moving average is $1.97.

Cardiff Oncology (NASDAQ:CRDF) last released 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 the consensus estimate of $0.09 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. Equities analysts anticipate that Cardiff Oncology, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Advisors Wealth Management LLC purchased a new stake in shares of Cardiff Oncology in the 4th quarter worth about $30,000. Tamar Securities LLC bought a new position in Cardiff Oncology in the fourth quarter worth about $32,000. Brooklyn Investment Group purchased a new stake in Cardiff Oncology in the third quarter worth about $26,000. R Squared Ltd bought a new stake in Cardiff Oncology during the 4th quarter valued at approximately $36,000. Finally, Engineers Gate Manager LP bought a new stake in Cardiff Oncology during the 2nd quarter valued at approximately $43,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen downgraded Cardiff Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a report on Monday, May 18th. 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 downgraded shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Craig Hallum lowered shares of Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a report on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cardiff Oncology has an average rating of “Hold” and an average price target of $8.75.

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.