Cardiff Oncology (NASDAQ:CRDF) Trading Down 1.1% - Here's What Happened

Key Points

• Shares fell 1.1% to $1.78 on Monday with about 713,448 shares traded (roughly 1% above average); the 50-day and 200-day moving averages are $1.73 and $2.15, respectively.
• Analysts have a consensus rating of “Moderate Buy” with an average price target of $10.10, based on five Buys, one Hold and one Sell and recent targets ranging from $6 to $12.
• Cardiff reported Q results showing EPS of -$0.11 (beating the -$0.18 estimate) and revenue of $0.24M, but remains highly unprofitable and analysts forecast about -0.6 EPS for the year.

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) dropped 1.1% during trading on Monday . The stock traded as low as $1.73 and last traded at $1.78. Approximately 713,448 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 707,656 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

CRDF has been the subject of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cardiff Oncology in a report on Wednesday, January 21st. Noble Financial initiated coverage on shares of Cardiff Oncology in a report on Monday, January 5th. They issued an "outperform" rating and a $12.00 target price for the company. Piper Sandler lowered their target price on shares of Cardiff Oncology from $10.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of Cardiff Oncology from a "sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, HC Wainwright reiterated a "buy" rating and issued a $10.00 target price on shares of Cardiff Oncology in a report on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.10.

Cardiff Oncology Price Performance

The business's fifty day moving average is $1.73 and its 200-day moving average is $2.15. The firm has a market cap of $121.68 million, a PE ratio of -2.58 and a beta of 1.42.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Cardiff Oncology had a negative net margin of 7,733.22% and a negative return on equity of 82.01%. The business had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.13 million. Analysts forecast that Cardiff Oncology, Inc. will post -0.6 EPS for the current year.

Institutional Trading of Cardiff Oncology

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Cardiff Oncology by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company's stock worth $69,000 after buying an additional 4,232 shares during the last quarter. Invesco Ltd. increased its holdings in Cardiff Oncology by 24.9% during the second quarter. Invesco Ltd. now owns 23,795 shares of the company's stock worth $75,000 after buying an additional 4,749 shares during the last quarter. AlphaCore Capital LLC increased its holdings in Cardiff Oncology by 8.2% during the third quarter. AlphaCore Capital LLC now owns 109,926 shares of the company's stock worth $226,000 after buying an additional 8,351 shares during the last quarter. Raymond James Financial Inc. increased its holdings in 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 buying an additional 9,740 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Cardiff Oncology by 18.8% during the first quarter. Rhumbline Advisers now owns 63,142 shares of the company's stock worth $198,000 after buying an additional 9,970 shares during the last quarter. Hedge funds and other institutional investors own 16.29% of the company's stock.

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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