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

Cardiff Oncology, Inc. (NASDAQ:CRDF) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.50.

CRDF has been the subject of a number of research reports. Wall Street Zen cut shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Craig Hallum lowered shares of Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a report on Wednesday, June 3rd. 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 Cardiff Oncology from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings lowered Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 21st.

Cardiff Oncology Stock Performance

Cardiff Oncology stock opened at $0.95 on Thursday. The stock has a market capitalization of $65.42 million, a price-to-earnings ratio of -1.43 and a beta of 1.49. Cardiff Oncology has a 52-week low of $0.76 and a 52-week high of $3.31. The stock’s 50 day moving average price is $1.22 and its two-hundred day moving average price is $1.60.

Cardiff Oncology (NASDAQ:CRDF) last released its quarterly earnings data 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). Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.09 million. On average, equities research analysts forecast that Cardiff Oncology will post -0.66 EPS for the current year.

Insider Buying and Selling

In other news, CEO Mani Mohindru bought 24,703 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average cost of $1.21 per share, for a total transaction of $29,890.63. Following the acquisition, the chief executive officer directly owned 24,703 shares in the company, valued at approximately $29,890.63. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary W. Pace purchased 30,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were acquired at an average price of $1.22 per share, with a total value of $36,600.00. Following the purchase, the director directly owned 1,356,376 shares in the company, valued at $1,654,778.72. This represents a 2.26% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRDF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cardiff Oncology by 50.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,319 shares of the company’s stock worth $108,000 after acquiring an additional 11,497 shares during the last quarter. Rhumbline Advisers lifted its position in Cardiff Oncology by 18.8% in the 1st quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock valued at $198,000 after acquiring an additional 9,970 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $4,723,000 after purchasing an additional 104,409 shares during the last quarter. Invesco Ltd. boosted its stake in Cardiff Oncology by 24.9% during the 2nd quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock valued at $75,000 after purchasing an additional 4,749 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Cardiff Oncology by 23.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock worth $69,000 after purchasing an additional 4,232 shares in the last quarter. 16.29% of the stock is currently 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.