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

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.10.

Several equities research analysts have issued reports on the stock. Noble Financial began coverage on shares of Cardiff Oncology in a research report on Monday, January 5th. They set an “outperform” rating and a $12.00 target price for the company. Piper Sandler dropped their price objective 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. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Cardiff Oncology in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st.

Cardiff Oncology Price Performance

NASDAQ CRDF traded down $0.07 during trading on Monday, reaching $1.88. The company’s stock had a trading volume of 273,214 shares, compared to its average volume of 1,337,527. The firm has a fifty day moving average of $2.32 and a 200 day moving average of $2.25. Cardiff Oncology has a one year low of $1.48 and a one year high of $4.56. The stock has a market capitalization of $128.18 million, a PE ratio of -2.72 and a beta of 1.32.

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

Hedge Funds Weigh In On Cardiff Oncology

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. purchased a new stake in Cardiff Oncology during the fourth quarter valued at about $3,388,000. Laurion Capital Management LP increased its holdings in shares of Cardiff Oncology by 37.2% in the third quarter. Laurion Capital Management LP now owns 2,465,872 shares of the company’s stock worth $5,080,000 after buying an additional 668,590 shares during the period. Acorn Capital Advisors LLC lifted its stake in shares of Cardiff Oncology by 39.3% in the 3rd 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 during the last quarter. Flputnam Investment Management Co. lifted its stake in shares of Cardiff Oncology by 1,008.8% in the 3rd quarter. Flputnam Investment Management Co. now owns 597,233 shares of the company’s stock valued at $1,230,000 after acquiring an additional 543,370 shares during the last quarter. Finally, Millennium Management LLC boosted 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 valued at $546,000 after acquiring an additional 158,519 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.

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.