Cardiff Oncology Target of Unusually High Options Trading (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) was the target of unusually large options trading on Wednesday. Stock investors acquired 13,812 put options on the company. Thisrepresentsanincreaseofapproximately566% compared to the typical daily volume of 2,074 put options.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. LADENBURG THALM/SH SH assumed coverage on Cardiff Oncology in a research note on Tuesday, July 8th. They set a "buy" rating and a $19.00 price target on the stock. Jefferies Financial Group started coverage on Cardiff Oncology in a research note on Tuesday, June 24th. They set a "hold" rating and a $3.50 price target on the stock. William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. Finally, HC Wainwright lifted their target price on Cardiff Oncology from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, May 9th. One equities research 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.70.

Insider Buying and Selling at Cardiff Oncology

In other Cardiff Oncology news, Director Gary W. Pace purchased 15,000 shares of the company'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 completion of the purchase, the director owned 1,345,676 shares of the company's stock, valued at approximately $3,296,906.20. The trade was a 1.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Blair William & Co. IL lifted its holdings in Cardiff Oncology by 44.1% in the second quarter. Blair William & Co. IL now owns 2,524,118 shares of the company's stock valued at $7,951,000 after acquiring an additional 772,844 shares during the period. SteelPeak Wealth LLC lifted its holdings in Cardiff Oncology by 23.2% in the second quarter. SteelPeak Wealth LLC now owns 22,800 shares of the company's stock valued at $72,000 after acquiring an additional 4,300 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in Cardiff Oncology in the second quarter valued at approximately $32,000. Rhumbline Advisers lifted its holdings in Cardiff Oncology by 18.8% in the first quarter. Rhumbline Advisers now owns 63,142 shares of the company's stock valued at $198,000 after acquiring an additional 9,970 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in Cardiff Oncology in the first quarter valued at approximately $37,000. 16.29% of the stock is owned by institutional investors and hedge funds.

Cardiff Oncology Stock Up 11.4%

Shares of Cardiff Oncology stock traded up $0.27 on Friday, reaching $2.64. 5,866,110 shares of the stock were exchanged, compared to its average volume of 2,754,019. Cardiff Oncology has a twelve month low of $2.01 and a twelve month high of $5.64. The firm has a market capitalization of $175.64 million, a price-to-earnings ratio of -3.03 and a beta of 1.55. The business has a 50 day moving average price of $3.59 and a two-hundred day moving average price of $3.49.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last announced its quarterly 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 net margin of 9,344.14% and a negative return on equity of 77.94%. The company had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.11 million. Research analysts forecast that Cardiff Oncology will post -0.99 EPS for the current year.

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.