Cardiff Oncology (NASDAQ:CRDF) Posts Earnings Results, Beats Estimates By $0.07 EPS

Cardiff Oncology (NASDAQ:CRDF) issued its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07, Zacks reports. The business had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.13 million. Cardiff Oncology had a negative return on equity of 77.17% and a negative net margin of 7,733.22%.

Cardiff Oncology Stock Up 1.8%

Shares of NASDAQ CRDF traded up $0.04 during midday trading on Thursday, hitting $1.95. The stock had a trading volume of 716,593 shares, compared to its average volume of 1,365,384. Cardiff Oncology has a 1-year low of $1.48 and a 1-year high of $4.56. The company has a market capitalization of $131.02 million, a price-to-earnings ratio of -2.82 and a beta of 1.33. The company has a fifty day moving average price of $2.35 and a 200 day moving average price of $2.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Cardiff Oncology in the 4th quarter valued at about $108,000. XTX Topco Ltd grew its position in shares of Cardiff Oncology by 40.5% during the fourth quarter. XTX Topco Ltd now owns 219,357 shares of the company’s stock worth $616,000 after buying an additional 63,196 shares in the last quarter. Millennium Management LLC increased its stake in shares of Cardiff Oncology by 441.5% in the fourth quarter. Millennium Management LLC now owns 194,420 shares of the company’s stock worth $546,000 after buying an additional 158,519 shares during the last quarter. Laurion Capital Management LP raised its holdings in Cardiff Oncology by 7.3% in the fourth quarter. Laurion Capital Management LP now owns 2,646,738 shares of the company’s stock valued at $7,437,000 after acquiring an additional 180,866 shares in the last quarter. Finally, Barclays PLC raised its holdings in Cardiff Oncology by 13.3% in the fourth quarter. Barclays PLC now owns 98,863 shares of the company’s stock valued at $278,000 after acquiring an additional 11,624 shares in the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Noble Financial started coverage on Cardiff Oncology in a report on Monday, January 5th. They issued an “outperform” rating and a $12.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Cardiff Oncology in a research note on Wednesday, January 28th. Piper Sandler reduced their target price on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Five 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.10.

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.