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

Key Points

• Cardiff Oncology, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with one hold and five buy ratings, and an average price target of $10.10.
• Director Gary W. Pace bought 15,000 shares of the company at $2.45 each, increasing his ownership stake to approximately 1.35 million shares.
• Cardiff Oncology reported a net loss per share of $0.21 for the most recent quarter, missing expectations, while the company had revenue of $0.12 million.

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.10.

Several research analysts have issued reports on CRDF shares. William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. LADENBURG THALM/SH SH began coverage on shares of Cardiff Oncology in a report on Tuesday, July 8th. They issued a "buy" rating and a $19.00 target price for the company. Jefferies Financial Group began coverage on shares of Cardiff Oncology in a report on Tuesday, June 24th. They issued a "hold" rating and a $3.50 target price for the company. Finally, HC Wainwright decreased their target price on shares of Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, August 6th.

Insider Transactions at Cardiff Oncology

In other news, Director Gary W. Pace bought 275,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $2.45 per share, with a total value of $673,750.00. Following the completion of the acquisition, the director owned 1,330,676 shares of the company's stock, valued at approximately $3,260,156.20. This represents a 26.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Cardiff Oncology in the fourth quarter worth about $25,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Cardiff Oncology during the second quarter valued at approximately $32,000. Ledgewood Wealth Advisors LLC purchased a new position in shares of Cardiff Oncology during the first quarter valued at approximately $35,000. ProShare Advisors LLC purchased a new position in shares of Cardiff Oncology during the fourth quarter valued at approximately $50,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Cardiff Oncology during the first quarter valued at approximately $37,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

Cardiff Oncology Price Performance

NASDAQ CRDF traded up $0.02 during trading hours on Wednesday, reaching $2.10. 862,176 shares of the company's stock traded hands, compared to its average volume of 1,268,325. Cardiff Oncology has a 52-week low of $2.06 and a 52-week high of $5.64. The firm has a market cap of $139.71 million, a PE ratio of -2.41 and a beta of 1.29. The firm has a 50-day simple moving average of $3.10 and a 200 day simple moving average of $3.26.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts' expectations of $0.11 million. Sell-side analysts forecast that Cardiff Oncology will post -0.99 EPS for the current fiscal 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.