Cardiff Oncology, Inc. (NASDAQ:CRDF) Receives $10.10 Average Price Target from Analysts

Key Points

• Cardiff Oncology has received an average recommendation of "Moderate Buy" from six brokerages, with a consensus price target of $10.10 for the next year.
• Insider trading activity includes Director Gary W. Pace purchasing 15,000 shares at $2.45 per share, increasing his ownership in the company.
• Cardiff Oncology reported a loss of $0.21 EPS for the last quarter, falling short of the estimated loss of $0.19, while their revenue was $0.12 million, slightly exceeding expectations.

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One 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 analysts that have issued a report on the stock in the last year is $10.10.

A number of research firms have recently commented on CRDF. 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 price target on the stock. William Blair restated an "outperform" rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. LADENBURG THALM/SH SH initiated coverage on shares of Cardiff Oncology in a report on Tuesday, July 8th. They issued a "buy" rating and a $19.00 price target on the stock. Finally, HC Wainwright lowered their price objective on shares of Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th.

Cardiff Oncology Trading Up 1.0%

Shares of NASDAQ CRDF traded up $0.02 during mid-day trading on Wednesday, reaching $2.10. The company had a trading volume of 862,176 shares, compared to its average volume of 1,268,325. The business's 50-day moving average is $3.12 and its 200-day moving average is $3.27. The stock has a market cap of $139.70 million, a price-to-earnings ratio of -2.41 and a beta of 1.29. Cardiff Oncology has a 52 week low of $2.06 and a 52 week high of $5.64.

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

Insiders Place Their Bets

In other Cardiff Oncology news, Director Gary W. Pace acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $2.45 per share, with a total value of $36,750.00. Following the completion of the purchase, the director directly owned 1,345,676 shares in the company, valued at $3,296,906.20. The trade was a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of Cardiff Oncology

Several hedge funds have recently modified their holdings of CRDF. Orbimed Advisors LLC purchased a new stake in shares of Cardiff Oncology during the fourth quarter valued at about $6,677,000. Blair William & Co. IL lifted its position in shares of Cardiff Oncology by 521.0% during the first quarter. Blair William & Co. IL now owns 1,751,274 shares of the company's stock valued at $5,499,000 after buying an additional 1,469,249 shares during the last quarter. Acorn Capital Advisors LLC purchased a new stake in shares of Cardiff Oncology during the fourth quarter valued at about $6,260,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Cardiff Oncology during the fourth quarter valued at about $5,609,000. Finally, Nuveen LLC purchased a new stake in shares of Cardiff Oncology during the first quarter valued at about $2,693,000. 16.29% of the stock is owned by hedge funds and other institutional investors.

Cardiff Oncology Company Profile

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.