Cardiff Oncology, Inc. (NASDAQ:CRDF) Sees Significant Increase in Short Interest

Cardiff Oncology, Inc. (NASDAQ:CRDF) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,810,000 shares, an increase of 144.3% from the February 29th total of 1,150,000 shares. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Trading of Cardiff Oncology

Several institutional investors and hedge funds have recently bought and sold shares of CRDF. XTX Topco Ltd purchased a new stake in Cardiff Oncology in the 1st quarter valued at $62,000. Renaissance Technologies LLC purchased a new position in Cardiff Oncology during the 1st quarter worth $1,219,000. Engineers Gate Manager LP purchased a new position in Cardiff Oncology during the 1st quarter worth $609,000. State Street Corp raised its position in Cardiff Oncology by 1.6% during the 1st quarter. State Street Corp now owns 704,237 shares of the company’s stock worth $1,747,000 after buying an additional 10,792 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Cardiff Oncology during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

Cardiff Oncology Stock Down 7.1 %

Shares of NASDAQ:CRDF traded down $0.41 during trading on Friday, hitting $5.34. 864,484 shares of the company were exchanged, compared to its average volume of 4,710,352. Cardiff Oncology has a 12-month low of $0.94 and a 12-month high of $6.42. The firm’s 50 day moving average price is $2.89 and its 200-day moving average price is $1.88.

Cardiff Oncology (NASDAQ:CRDF) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. Cardiff Oncology had a negative net margin of 8,492.01% and a negative return on equity of 50.13%. The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.08 million. On average, equities analysts predict that Cardiff Oncology will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRDF has been the topic of several research reports. HC Wainwright raised their price target on shares of Cardiff Oncology from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Piper Sandler boosted their price target on shares of Cardiff Oncology from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Friday, March 1st.

About Cardiff Oncology

Cardiff Oncology, Inc, a clinical-stage biotechnology company, develops novel therapies to treat various cancers in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor to treatment a range of solid tumor cancers and KRAS/NRAS-mutated metastatic colorectal and metastatic pancreatic cancer, as well as investigator-initiated trials in triple negative breast cancer and small cell lung cancer; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.