Cardiff Oncology, Inc. (NASDAQ:CRDF) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts hold a cautious view: Cardiff Oncology has an average “Hold” rating from six analysts—one sell, three hold, and two buy recommendations—with an average 12-month price target of $7.50. Several firms recently downgraded the stock.
• Shares remain under pressure: CRDF traded at $0.83, near its 12-month low of $0.76 and below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.18 per share, worse than the expected $0.13 loss, and minimal revenue.
• Insiders increased their positions: A director and the CEO purchased shares in June, while insiders collectively own 8.50% of the company; institutional investors hold 16.29%.

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) have received an average recommendation of "Hold" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $7.50.

A number of research analysts have recently commented on CRDF shares. HC Wainwright cut Cardiff Oncology from a "buy" rating to a "neutral" rating in a research note on Monday, June 1st. Craig Hallum cut 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. Weiss Ratings downgraded Cardiff Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 21st. TD Cowen lowered Cardiff Oncology from a "buy" rating to a "hold" rating in a research report on Monday, June 1st. Finally, Wall Street Zen cut shares of Cardiff Oncology from a "hold" rating to a "sell" rating in a report on Saturday, May 16th.

Cardiff Oncology Stock Performance

Shares of NASDAQ CRDF traded up $0.02 during midday trading on Thursday, hitting $0.83. 55,526 shares of the company traded hands, compared to its average volume of 1,225,036. Cardiff Oncology has a 12-month low of $0.76 and a 12-month high of $3.31. The firm has a market cap of $57.13 million, a P/E ratio of -1.24 and a beta of 1.44. The stock has a 50-day moving average price of $1.31 and a 200 day moving average price of $1.67.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Cardiff Oncology had a negative return on equity of 95.51% and a negative net margin of 8,527.43%.The company had revenue of $0.04 million during the quarter, compared to analysts' expectations of $0.09 million. As a group, equities analysts expect that Cardiff Oncology will post -0.66 earnings per share for the current year.

Insider Transactions at Cardiff Oncology

In other Cardiff Oncology news, Director Gary W. Pace purchased 30,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 1,356,376 shares in the company, valued at approximately $1,654,778.72. The trade was a 2.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mani Mohindru acquired 24,703 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost 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 of the company's stock, valued at $29,890.63. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 8.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in Cardiff Oncology in the third quarter worth $26,000. Capital Advisors Wealth Management LLC purchased a new position in shares of Cardiff Oncology in the 4th quarter worth about $30,000. Tamar Securities LLC bought a new position in Cardiff Oncology in the 4th quarter worth about $32,000. R Squared Ltd bought a new position in Cardiff Oncology in the 4th quarter worth about $36,000. Finally, Engineers Gate Manager LP purchased a new stake in Cardiff Oncology during the 2nd quarter valued at about $43,000. 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.

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