Cardiff Oncology (NASDAQ:CRDF) Releases Quarterly Earnings Results, Misses Expectations 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) posted its quarterly earnings data on Tuesday. The company reported ($0.21) 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 analysts' expectations of $0.11 million.

Cardiff Oncology Price Performance

CRDF traded up $0.28 during trading hours on Friday, reaching $2.65. The company's stock had a trading volume of 2,886,770 shares, compared to its average volume of 1,415,298. Cardiff Oncology has a fifty-two week low of $2.01 and a fifty-two week high of $5.64. The stock has a market cap of $175.96 million, a PE ratio of -3.03 and a beta of 1.52. The business's 50-day moving average is $3.60 and its 200-day moving average is $3.50.

Insider Buying and Selling

In other Cardiff Oncology news, Director Gary W. Pace acquired 275,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $2.45 per share, for a total transaction 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. The trade was a 26.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cardiff Oncology stock. Rhumbline Advisers grew its position in shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) by 18.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,142 shares of the company's stock after purchasing an additional 9,970 shares during the period. Rhumbline Advisers owned approximately 0.09% of Cardiff Oncology worth $198,000 as of its most recent SEC filing. 16.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.