Cardiff Oncology (NASDAQ:CRDF) Trading Up 1.1% – Here’s What Happened

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) shot up 1.1% on Monday . The company traded as high as $0.85 and last traded at $0.8359. 861,652 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 1,650,542 shares. The stock had previously closed at $0.8269.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRDF. Craig Hallum cut Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a report on Wednesday, June 3rd. Wall Street Zen lowered Cardiff Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. TD Cowen lowered Cardiff Oncology from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings cut Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 21st. Finally, HC Wainwright downgraded Cardiff Oncology from a “buy” rating to a “neutral” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.50.

Cardiff Oncology Stock Performance

The firm has a market cap of $57.26 million, a P/E ratio of -1.25 and a beta of 1.44. The company’s 50 day moving average is $1.35 and its 200 day moving average is $1.70.

Cardiff Oncology (NASDAQ:CRDF) last posted its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). The company 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 95.51% and a negative net margin of 8,527.43%. On average, equities research analysts anticipate that Cardiff Oncology, Inc. will post -0.66 EPS for the current year.

Insider Buying and Selling at Cardiff Oncology

In other news, CEO Mani Mohindru bought 24,703 shares of the stock in a transaction on Thursday, June 18th. The stock was acquired at an average price of $1.21 per share, with a total value of $29,890.63. Following the acquisition, the chief executive officer directly owned 24,703 shares in the company, valued at approximately $29,890.63. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary W. Pace bought 30,000 shares of the stock in a transaction on Thursday, June 18th. The stock was purchased at an average cost of $1.22 per share, with a total value of $36,600.00. Following the acquisition, the director owned 1,356,376 shares in the company, valued at approximately $1,654,778.72. This represents a 2.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Cardiff Oncology

A number of hedge funds have recently made changes to their positions in CRDF. Brooklyn Investment Group acquired a new position in shares of Cardiff Oncology in the third quarter valued at approximately $26,000. Capital Advisors Wealth Management LLC acquired a new stake in Cardiff Oncology during the 4th quarter worth approximately $30,000. Tamar Securities LLC acquired a new stake in Cardiff Oncology during the 4th quarter worth approximately $32,000. R Squared Ltd acquired a new stake in Cardiff Oncology during the 4th quarter worth approximately $36,000. Finally, Engineers Gate Manager LP bought a new stake in Cardiff Oncology during the 2nd quarter worth approximately $43,000. 16.29% of the stock is owned by institutional investors and hedge funds.

About Cardiff Oncology

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.