Cardiff Oncology Sees Unusually High Options Volume (NASDAQ:CRDF)

Key Points

• Cardiff Oncology experienced a 566% increase in put options trading, with 13,812 put options purchased on Wednesday, significantly surpassing its typical trading volume.
• Institutional investors have recently adjusted their positions, with Blair William & Co. IL increasing its holdings by 44.1%, now owning over 2.5 million shares valued at approximately $7.95 million.
• Analysts have mixed ratings on Cardiff Oncology, with targets ranging from $3.50 to $19.00 and a general consensus rating of "Moderate Buy," indicating optimism about future stock performance.

Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) saw some unusual options trading activity on Wednesday. Stock investors purchased 13,812 put options on the company. Thisisanincreaseofapproximately566% compared to the typical volume of 2,074 put options.

Cardiff Oncology Price Performance

CRDF stock traded up $0.20 during trading hours on Friday, reaching $2.57. The stock had a trading volume of 2,795,029 shares, compared to its average volume of 1,412,640. The stock has a market capitalization of $170.64 million, a PE ratio of -2.95 and a beta of 1.52. The stock has a 50-day simple moving average of $3.60 and a 200 day simple moving average of $3.50. Cardiff Oncology has a fifty-two week low of $2.01 and a fifty-two week high of $5.64.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). Cardiff Oncology had a negative return on equity of 77.94% and a negative net margin of 9,344.14%. The company had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.11 million. On average, sell-side analysts forecast that Cardiff Oncology will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Cardiff Oncology news, Director Gary W. Pace purchased 15,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $2.45 per share, for a total transaction of $36,750.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.70% of the stock is owned by company insiders.

Institutional Trading of Cardiff Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Cardiff Oncology in the 4th quarter worth about $25,000. Baader Bank Aktiengesellschaft bought a new position in Cardiff Oncology in the 2nd quarter valued at about $32,000. Ledgewood Wealth Advisors LLC bought a new position in Cardiff Oncology in the 1st quarter valued at about $35,000. ProShare Advisors LLC bought a new position in Cardiff Oncology in the 4th quarter valued at about $50,000. Finally, Belpointe Asset Management LLC bought a new position in Cardiff Oncology in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 16.29% of the company's stock.

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.