Cardiff Oncology (NASDAQ:CRDF) Posts Earnings Results, Misses Estimates By $0.05 EPS

Cardiff Oncology (NASDAQ:CRDF) announced its earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05), FiscalAI reports. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.09 million. Cardiff Oncology had a negative return on equity of 82.01% and a negative net margin of 7,733.22%.

Cardiff Oncology Trading Up 2.4%

NASDAQ CRDF traded up $0.04 during midday trading on Thursday, hitting $1.73. The company had a trading volume of 522,359 shares, compared to its average volume of 649,321. The firm has a 50-day moving average price of $1.72 and a 200-day moving average price of $2.08. The company has a market capitalization of $118.28 million, a PE ratio of -2.51 and a beta of 1.36. Cardiff Oncology has a twelve month low of $1.48 and a twelve month high of $4.56.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler reduced their price target on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen raised Cardiff Oncology from a “sell” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a report on Wednesday, January 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cardiff Oncology in a report on Wednesday, January 28th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.10.

Institutional Investors Weigh In On Cardiff Oncology

A number of large investors have recently modified their holdings of CRDF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $108,000 after purchasing an additional 11,497 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of 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 purchasing an additional 9,970 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cardiff Oncology by 7.5% in 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Cardiff Oncology by 24.9% in 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Cardiff Oncology by 23.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock valued at $69,000 after purchasing an additional 4,232 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

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.