Cardiff Oncology, Inc. (NASDAQ:CRDF) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Cardiff Oncology, Inc. (NASDAQ:CRDF) received an average consensus rating of "Moderate Buy" from six research firms, with one hold recommendation and five buy recommendations.
• Director Gary W. Pace purchased 15,000 shares at $2.45 each, increasing his ownership of the stock and showing insider confidence in the company.
• Cardiff Oncology reported a negative EPS of ($0.21) for the last quarter, missing estimates, and had a significant market capitalization of $175.64 million.

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.10.

A number of brokerages have recently commented on CRDF. HC Wainwright cut their price target on Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a research report on Wednesday, June 18th. Jefferies Financial Group initiated coverage on Cardiff Oncology in a research report on Tuesday, June 24th. They issued a "hold" rating and a $3.50 price target for the company. Finally, LADENBURG THALM/SH SH initiated coverage on Cardiff Oncology in a research note on Tuesday, July 8th. They issued a "buy" rating and a $19.00 price objective for the company.

Insider Buying and Selling at Cardiff Oncology

In other news, Director Gary W. Pace acquired 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $2.45 per share, with a total value of $36,750.00. Following the acquisition, the director owned 1,345,676 shares in the company, valued at approximately $3,296,906.20. This represents a 1.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cardiff Oncology

Several hedge funds have recently made changes to their positions in the business. Blair William & Co. IL boosted its position in shares of Cardiff Oncology by 44.1% during the second quarter. Blair William & Co. IL now owns 2,524,118 shares of the company's stock valued at $7,951,000 after buying an additional 772,844 shares during the last quarter. Orbimed Advisors LLC purchased a new stake in shares of Cardiff Oncology during the fourth quarter worth about $6,677,000. Adage Capital Partners GP L.L.C. boosted its holdings in Cardiff Oncology by 11.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,445,000 shares of the company's stock valued at $4,537,000 after acquiring an additional 152,692 shares during the period. Acorn Capital Advisors LLC bought a new position in shares of Cardiff Oncology during the 4th quarter worth $6,260,000. Finally, Geode Capital Management LLC lifted its stake in shares of Cardiff Oncology by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 982,878 shares of the company's stock worth $4,266,000 after purchasing an additional 54,646 shares during the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

Cardiff Oncology Stock Performance

Shares of NASDAQ CRDF traded down $0.12 during mid-day trading on Friday, reaching $2.46. The company had a trading volume of 1,160,676 shares, compared to its average volume of 1,447,526. Cardiff Oncology has a one year low of $2.09 and a one year high of $5.64. The firm has a market cap of $163.33 million, a price-to-earnings ratio of -2.82 and a beta of 1.54. The business's 50-day simple moving average is $3.57 and its 200 day simple moving average is $3.48.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). Cardiff Oncology had a negative net margin of 9,344.14% and a negative return on equity of 77.94%. The business had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.11 million. On average, sell-side analysts anticipate that Cardiff Oncology will post -0.99 EPS for the current year.

About Cardiff Oncology

Cardiff Oncology, Inc, a clinical-stage biotechnology company, develops novel therapies to treat various cancers in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor to treatment a range of solid tumor cancers and KRAS/NRAS-mutated metastatic colorectal and metastatic pancreatic cancer, as well as investigator-initiated trials in triple negative breast cancer and small cell lung cancer; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.