Cardiff Oncology, Inc. (NASDAQ:CRDF) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst sentiment is mixed: Seven analysts give Cardiff Oncology an average “Hold” rating, with three buys, three holds and one sell. The average 12-month price target is $7.50.
• Institutional ownership increased: Several investors, including BlackRock, opened new positions, though institutions collectively own only 16.29% of the company.
• The company remains financially challenged: Shares traded near $1.01, while Cardiff Oncology reported a quarterly loss of $0.14 per share, missed estimates and continues developing its cancer drug candidate onvansertib.

Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) has been given an average rating of "Hold" by the seven analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.50.

Several equities research analysts recently issued reports on the company. HC Wainwright raised Cardiff Oncology from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 15th. Weiss Ratings upgraded Cardiff Oncology from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday. William Blair cut Cardiff Oncology from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Cardiff Oncology from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 5th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Cardiff Oncology in the 2nd quarter worth $1,265,000. GoalVest Advisory LLC purchased a new stake in shares of Cardiff Oncology during the 3rd quarter valued at $832,000. Flputnam Investment Management Co. purchased a new stake in shares of Cardiff Oncology during the 2nd quarter valued at $322,000. X Square Capital LLC purchased a new stake in shares of Cardiff Oncology during the 2nd quarter valued at $267,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Cardiff Oncology during the 2nd quarter worth $225,000. 16.29% of the stock is currently owned by institutional investors.

Cardiff Oncology Price Performance

NASDAQ:CRDF traded down $0.03 during trading hours on Tuesday, hitting $1.01. The stock had a trading volume of 82,495 shares, compared to its average volume of 1,096,817. The company has a 50 day simple moving average of $1.09 and a two-hundred day simple moving average of $1.32. The firm has a market capitalization of $78.57 million, a price-to-earnings ratio of -1.68 and a beta of 1.42. Cardiff Oncology has a one year low of $0.76 and a one year high of $3.31.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Cardiff Oncology had a negative return on equity of 103.10% and a negative net margin of 7,885.43%. The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.06 million. Equities research analysts anticipate that Cardiff Oncology will post -0.60 earnings per share for the current year.

About Cardiff Oncology

Cardiff Oncology, Inc is a clinical-stage biotechnology company focused on developing cancer therapies designed to target difficult-to-treat tumors. The company's lead investigational product is onvansertib, an oral, highly selective inhibitor of polo-like kinase 1 (PLK1), a protein involved in cell division and tumor growth.

Cardiff Oncology has primarily evaluated onvansertib in combination with existing treatments for patients with RAS-mutated metastatic colorectal cancer, including regimens involving chemotherapy and targeted agents.

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