Blair William & Co. IL Acquires 1,469,249 Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF)

Key Points

• Blair William & Co. IL increased its ownership of Cardiff Oncology to 1,751,274 shares, raising its stake by 521.0% during the first quarter, valued at $5,499,000.
• Insider Director Gary W. Pace bought 275,000 shares of Cardiff Oncology, boosting his total ownership by 26.05% to 1,330,676 shares, valued at approximately $3.26 million.
• Analysts have mixed ratings for Cardiff Oncology, with a current average rating of "Moderate Buy" and price targets ranging from $3.50 to $19.00 per share.

Blair William & Co. IL boosted its holdings in Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) by 521.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,751,274 shares of the company's stock after buying an additional 1,469,249 shares during the quarter. Blair William & Co. IL owned 2.63% of Cardiff Oncology worth $5,499,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in Cardiff Oncology in the fourth quarter worth approximately $25,000. American Century Companies Inc. grew its position in Cardiff Oncology by 12.8% in the fourth quarter. American Century Companies Inc. now owns 53,955 shares of the company's stock worth $234,000 after buying an additional 6,140 shares during the last quarter. Wells Fargo & Company MN grew its position in Cardiff Oncology by 38.1% in the fourth quarter. Wells Fargo & Company MN now owns 32,064 shares of the company's stock worth $139,000 after buying an additional 8,851 shares during the last quarter. Barclays PLC boosted its stake in Cardiff Oncology by 17.9% in the 4th quarter. Barclays PLC now owns 62,596 shares of the company's stock worth $272,000 after purchasing an additional 9,507 shares during the period. Finally, Rhumbline Advisers boosted its stake in Cardiff Oncology by 18.8% in the 1st quarter. Rhumbline Advisers now owns 63,142 shares of the company's stock worth $198,000 after purchasing an additional 9,970 shares during the period. Institutional investors and hedge funds own 16.29% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. HC Wainwright decreased their price objective 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. William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a research note on Wednesday, June 18th. Jefferies Financial Group assumed coverage on shares of Cardiff Oncology in a research note on Tuesday, June 24th. They issued a "hold" rating and a $3.50 price objective for the company. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Cardiff Oncology in a research note on Tuesday, July 8th. They issued a "buy" rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.10.

Insider Activity

In related news, Director Gary W. Pace bought 15,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $2.45 per share, with a total value of $36,750.00. Following the purchase, the director directly owned 1,345,676 shares of the company's stock, valued at approximately $3,296,906.20. This represents a 1.13% increase in their position. The transaction 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.

Cardiff Oncology Stock Down 1.2%

Shares of NASDAQ:CRDF traded down $0.03 during trading on Thursday, reaching $2.41. 1,720,065 shares of the company traded hands, compared to its average volume of 3,140,103. The firm has a fifty day simple moving average of $3.54 and a 200 day simple moving average of $3.47. The firm has a market cap of $160.34 million, a P/E ratio of -2.77 and a beta of 1.54. Cardiff Oncology, Inc. has a 1-year low of $2.09 and a 1-year high of $5.64.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last issued 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). The company had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.11 million. Cardiff Oncology had a negative net margin of 9,344.14% and a negative return on equity of 77.94%. As a group, research analysts anticipate that Cardiff Oncology, Inc. 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.