Cardiff Oncology (NASDAQ:CRDF) Releases Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Cardiff Oncology missed earnings expectations: The clinical-stage biotech reported a quarterly loss of $0.14 per share, $0.02 worse than analysts expected. Revenue reached $0.10 million, exceeding the $0.06 million consensus estimate.
• Shares remain under pressure: CRDF traded around $1.05, well below its 50-day and 200-day moving averages, with a 52-week range of $0.76 to $3.31. Analysts’ average rating is “Hold,” while several firms recently downgraded the stock.
• Insiders bought shares, but sentiment is cautious: The CEO and a director purchased roughly $66,500 worth of stock, while insiders own 8.5% of the company. Institutional investors hold 16.29% of shares, and the company continues developing small-molecule immuno-oncology therapies.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) released its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.06 million.

Cardiff Oncology Stock Performance

Shares of CRDF stock traded up $0.02 on Tuesday, hitting $1.05. The stock had a trading volume of 800,972 shares, compared to its average volume of 1,208,830. The stock's 50 day moving average is $1.17 and its 200-day moving average is $1.56. The firm has a market capitalization of $71.92 million, a price-to-earnings ratio of -1.57 and a beta of 1.50. Cardiff Oncology has a 52-week low of $0.76 and a 52-week high of $3.31.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. HC Wainwright cut shares of Cardiff Oncology from a "buy" rating to a "neutral" rating in a report on Monday, June 1st. Craig Hallum cut Cardiff Oncology from a "buy" rating to a "hold" rating and set a $2.00 price objective for the company. in a research report on Wednesday, June 3rd. Weiss Ratings raised shares of Cardiff Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. Wall Street Zen lowered Cardiff Oncology from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, TD Cowen cut shares of Cardiff Oncology from a "buy" rating to a "hold" rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.50.

Insider Buying and Selling

In related news, CEO Mani Mohindru bought 24,703 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was bought at an average price of $1.21 per share, with a total value of $29,890.63. Following the transaction, the chief executive officer owned 24,703 shares of the company's stock, valued at approximately $29,890.63. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary W. Pace purchased 30,000 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of $1.22 per share, for a total transaction of $36,600.00. Following the completion of the transaction, the director owned 1,356,376 shares in the company, valued at approximately $1,654,778.72. This represents a 2.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cardiff Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Cardiff Oncology in the third quarter worth approximately $26,000. Engineers Gate Manager LP acquired a new stake in Cardiff Oncology during the 2nd quarter worth about $43,000. Raymond James Financial Inc. boosted its holdings in shares of Cardiff Oncology by 70.1% during the third quarter. Raymond James Financial Inc. now owns 23,632 shares of the company's stock worth $49,000 after purchasing an additional 9,740 shares during the period. Invesco Ltd. increased its stake in shares of Cardiff Oncology by 24.9% in the second quarter. Invesco Ltd. now owns 23,795 shares of the company's stock worth $75,000 after acquiring an additional 4,749 shares during the last quarter. Finally, HRT Financial LP raised its stake in shares of Cardiff Oncology by 105.1% during the 4th quarter. HRT Financial LP now owns 29,408 shares of the company's stock worth $82,000 after purchasing an additional 15,073 shares in the last quarter. Institutional investors own 16.29% of the company's stock.

About Cardiff Oncology

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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