Cardiff Oncology (NASDAQ:CRDF) Shares Up 1.1% - Should You Buy?

Key Points

• Cardiff Oncology shares rose 1.1% to $0.8359, although trading volume was 48% below its average. The stock remains well below its 50-day and 200-day moving averages of $1.35 and $1.70, respectively.
• Analyst sentiment has weakened, with multiple firms downgrading the stock from Buy; the consensus rating is now Hold, despite a $7.50 consensus price target.
• The company missed quarterly expectations, reporting a $0.18 per-share loss versus the expected $0.13 loss and revenue of $0.04 million versus $0.09 million expected. Insiders recently purchased shares, while the clinical-stage biotech continues developing small-molecule immuno-oncology therapies.

Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report)'s stock price traded up 1.1% on Monday . The stock traded as high as $0.85 and last traded at $0.8359. 861,652 shares traded hands during trading, a decline of 48% from the average daily volume of 1,650,542 shares. The stock had previously closed at $0.8269.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen cut shares of Cardiff Oncology from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. HC Wainwright downgraded shares of Cardiff Oncology from a "buy" rating to a "neutral" rating in a research note on Monday, June 1st. Craig Hallum cut Cardiff Oncology from a "buy" rating to a "hold" rating and set a $2.00 price target for the company. in a report on Wednesday, June 3rd. Wall Street Zen downgraded Cardiff Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered Cardiff Oncology from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.50.

Cardiff Oncology Stock Up 1.1%

The company has a market cap of $57.26 million, a price-to-earnings ratio of -1.25 and a beta of 1.44. The stock has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.70.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.05). The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.09 million. Cardiff Oncology had a negative return on equity of 95.51% and a negative net margin of 8,527.43%. Analysts predict that Cardiff Oncology, Inc. will post -0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cardiff Oncology

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Cardiff Oncology by 23.9% in the 1st quarter. Bank of America Corp DE now owns 51,119 shares of the company's stock valued at $83,000 after buying an additional 9,855 shares in the last quarter. Renaissance Technologies LLC bought a new position in Cardiff Oncology in the first quarter valued at approximately $164,000. Sei Investments Co. bought a new position in Cardiff Oncology in the first quarter valued at approximately $89,000. Virtu Financial LLC bought a new position in Cardiff Oncology in the fourth quarter valued at approximately $108,000. Finally, XTX Topco Ltd raised its position in Cardiff Oncology by 40.5% during the fourth quarter. XTX Topco Ltd now owns 219,357 shares of the company's stock valued at $616,000 after purchasing an additional 63,196 shares in the last quarter. 16.29% of the stock is owned by institutional investors.

Cardiff Oncology Company Profile

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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