Cardiff Oncology (NASDAQ:CRDF) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Cardiff Oncology from “strong sell” to “sell,” but overall analyst sentiment remains “Hold,” with an average price target of $7.50.
• CRDF shares opened at $1.09, near the lower end of their 12-month range of $0.76 to $3.31. The company recently reported a quarterly loss of $0.14 per share, missing estimates by $0.02.
• Company insiders bought shares, including purchases by a director and the CEO, while institutional investors own 16.29% of the stock and insiders hold 8.80%.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on CRDF. Craig Hallum downgraded shares of Cardiff Oncology from a "buy" rating to a "hold" rating and set a $2.00 price target on the stock. in a research note on Wednesday, June 3rd. TD Cowen cut shares of Cardiff Oncology from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. William Blair downgraded shares of Cardiff Oncology from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Cardiff Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, August 19th. Finally, HC Wainwright cut shares of Cardiff Oncology from a "buy" rating to a "neutral" rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $7.50.

Cardiff Oncology Stock Up 0.9%

Cardiff Oncology stock opened at $1.09 on Friday. The business has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $1.44. The stock has a market cap of $84.79 million, a price-to-earnings ratio of -1.82 and a beta of 1.46. Cardiff Oncology has a 12 month low of $0.76 and a 12 month high of $3.31.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.06 million. Cardiff Oncology had a negative return on equity of 103.10% and a negative net margin of 7,885.43%. On average, analysts expect that Cardiff Oncology will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gary W. Pace acquired 30,000 shares of the business's stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $1.22 per share, with a total value of $36,600.00. Following the completion of the acquisition, the director owned 1,356,376 shares in the company, valued at $1,654,778.72. The trade was a 2.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mani Mohindru bought 24,703 shares of Cardiff Oncology stock in a transaction dated Thursday, June 18th. The stock was purchased at an average price of $1.21 per share, for a total transaction of $29,890.63. Following the purchase, the chief executive officer directly owned 24,703 shares in the company, valued at $29,890.63. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 8.80% of the company's stock.

Institutional Investors Weigh In On Cardiff Oncology

A number of hedge funds have recently made changes to their positions in CRDF. Brooklyn Investment Group acquired a new position in Cardiff Oncology in the third quarter valued at about $26,000. Tamar Securities LLC bought a new stake in Cardiff Oncology during the fourth quarter worth about $32,000. Hsbc Holdings PLC acquired a new stake in shares of Cardiff Oncology during the second quarter worth approximately $37,000. Engineers Gate Manager LP acquired a new stake in shares of Cardiff Oncology during the second quarter worth approximately $43,000. Finally, Raymond James Financial Inc. raised its stake in shares of Cardiff Oncology by 70.1% in the third quarter. Raymond James Financial Inc. now owns 23,632 shares of the company's stock valued at $49,000 after acquiring an additional 9,740 shares during 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.

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