Cardiff Oncology (NASDAQ:CRDF) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Cardiff Oncology reported a quarterly loss of ($0.21) earnings per share, missing the consensus estimate by $0.02.
• Following the earnings report, shares of CRDF fell by 11.3% to $3.31, with significant volume trading noticeably higher than its average.
• Despite the recent performance, analysts maintain a consensus rating of "Moderate Buy," with target prices ranging from $3.50 to $19.00.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02), Zacks reports. Cardiff Oncology had a negative return on equity of 77.94% and a negative net margin of 9,344.14%. The firm had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.11 million.

Cardiff Oncology Price Performance

CRDF traded up $0.27 during trading on Friday, hitting $2.64. The company's stock had a trading volume of 5,866,110 shares, compared to its average volume of 2,754,019. Cardiff Oncology has a twelve month low of $2.01 and a twelve month high of $5.64. The stock has a market cap of $175.64 million, a PE ratio of -3.03 and a beta of 1.55. The firm's 50 day moving average price is $3.59 and its 200-day moving average price is $3.49.

Insider Activity

In other Cardiff Oncology news, Director Gary W. Pace bought 15,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $2.45 per share, for a total transaction of $36,750.00. Following the completion of the purchase, the director owned 1,345,676 shares of the company's stock, valued at $3,296,906.20. This trade represents a 1.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by company insiders.

Institutional Trading of Cardiff Oncology

An institutional investor recently raised its position in Cardiff Oncology stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) by 50.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,319 shares of the company's stock after acquiring an additional 11,497 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Cardiff Oncology worth $108,000 as of its most recent SEC filing. 16.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRDF shares. William Blair restated an "outperform" rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. HC Wainwright lifted their price objective on Cardiff Oncology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Jefferies Financial Group began coverage on Cardiff Oncology in a research note on Tuesday, June 24th. They issued a "hold" rating and a $3.50 target price on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on Cardiff Oncology in a report on Tuesday, July 8th. They issued a "buy" rating and a $19.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.70.

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.