DAFNA Capital Management LLC Takes $471,000 Position in Cardiff Oncology, Inc. $CRDF

Key Points

• DAFNA Capital Management LLC acquired 150,000 shares of Cardiff Oncology, Inc. in the first quarter, valuing the investment at approximately $471,000.
• Cardiff Oncology recently reported a quarterly earnings loss of ($0.21) per share, missing consensus estimates, with expectations of a net EPS loss of -0.99 for the current year.
• Analysts have a consensus rating of "Moderate Buy" for Cardiff Oncology, with a target price of $10.10, despite one lowering the estimate from $18.00 to $10.00.

DAFNA Capital Management LLC purchased a new position in shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 150,000 shares of the company's stock, valued at approximately $471,000. DAFNA Capital Management LLC owned approximately 0.23% of Cardiff Oncology at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Dauntless Investment Group LLC bought a new position in Cardiff Oncology in the 1st quarter valued at about $302,000. Nuveen Asset Management LLC boosted its position in shares of Cardiff Oncology by 73.7% during the 4th quarter. Nuveen Asset Management LLC now owns 586,616 shares of the company's stock worth $2,546,000 after acquiring an additional 248,850 shares in the last quarter. Laurion Capital Management LP acquired a new stake in shares of Cardiff Oncology during the 4th quarter worth approximately $2,504,000. Northern Trust Corp lifted its stake in Cardiff Oncology by 8.9% in the 4th quarter. Northern Trust Corp now owns 337,092 shares of the company's stock valued at $1,463,000 after purchasing an additional 27,489 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Cardiff Oncology by 188.8% in the 4th quarter. Millennium Management LLC now owns 440,944 shares of the company's stock valued at $1,914,000 after purchasing an additional 288,259 shares during the last quarter. 16.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRDF. Jefferies Financial Group began coverage on shares of Cardiff Oncology in a research note on Tuesday, June 24th. They set a "hold" rating and a $3.50 price target for the company. HC Wainwright lowered their target price on shares of Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. LADENBURG THALM/SH SH initiated coverage on shares of Cardiff Oncology in a research note on Tuesday, July 8th. They issued a "buy" rating and a $19.00 price target for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a research note on Wednesday, June 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Cardiff Oncology currently has an average rating of "Moderate Buy" and a consensus price target of $10.10.

Insider Activity at Cardiff Oncology

In related news, Director Gary W. Pace purchased 275,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $2.45 per share, with a total value of $673,750.00. Following the acquisition, the director directly owned 1,330,676 shares of the company's stock, valued at approximately $3,260,156.20. This represents a 26.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is owned by insiders.

Cardiff Oncology Stock Performance

Cardiff Oncology stock traded up $0.01 during midday trading on Wednesday, reaching $1.96. 1,140,813 shares of the stock were exchanged, compared to its average volume of 1,422,703. The company's fifty day moving average is $3.07 and its 200-day moving average is $3.25. The firm has a market cap of $130.40 million, a PE ratio of -2.25 and a beta of 1.28. Cardiff Oncology, Inc. has a 52 week low of $1.90 and a 52 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 for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.11 million. Cardiff Oncology had a negative return on equity of 77.94% and a negative net margin of 9,344.14%. On average, sell-side analysts anticipate that Cardiff Oncology, Inc. will post -0.99 earnings per share for the current fiscal 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.