Cardiff Oncology (NASDAQ:CRDF) Stock Rating Lowered by Craig Hallum

Cardiff Oncology (NASDAQ:CRDF) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $2.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 41.84% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a report on Monday, May 18th. TD Cowen cut shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Monday. Wall Street Zen lowered Cardiff Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright lowered Cardiff Oncology from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Piper Sandler lowered their price objective on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cardiff Oncology currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Cardiff Oncology Price Performance

NASDAQ:CRDF traded down $0.10 during trading hours on Wednesday, hitting $1.41. The company had a trading volume of 1,175,896 shares, compared to its average volume of 1,068,088. The company has a market capitalization of $96.40 million, a PE ratio of -2.10 and a beta of 1.36. The stock has a 50-day moving average price of $1.69 and a 200 day moving average price of $2.04. Cardiff Oncology has a 52 week low of $1.40 and a 52 week high of $4.56.

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

Institutional Investors Weigh In On Cardiff Oncology

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. bought a new stake in shares of Cardiff Oncology in the fourth quarter worth approximately $3,388,000. Laurion Capital Management LP grew its stake in shares of Cardiff Oncology by 37.2% during the 3rd quarter. Laurion Capital Management LP now owns 2,465,872 shares of the company’s stock valued at $5,080,000 after purchasing an additional 668,590 shares during the period. Acorn Capital Advisors LLC grew its stake in shares of Cardiff Oncology by 39.3% during the 3rd quarter. Acorn Capital Advisors LLC now owns 1,962,084 shares of the company’s stock valued at $4,042,000 after purchasing an additional 553,317 shares during the period. Millennium Management LLC increased its position in shares of 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 purchasing an additional 158,519 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake 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 worth $4,723,000 after purchasing an additional 104,409 shares during the period. Institutional investors 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.