Adage Capital Partners GP L.L.C. Has $4.54 Million Position in Cardiff Oncology, Inc. $CRDF

Adage Capital Partners GP L.L.C. boosted its stake in Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,445,000 shares of the company's stock after purchasing an additional 152,692 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 2.17% of Cardiff Oncology worth $4,537,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CRDF. Orbimed Advisors LLC bought a new stake in shares of Cardiff Oncology in the fourth quarter worth about $6,677,000. Blair William & Co. IL increased its holdings in shares of Cardiff Oncology by 521.0% in the first quarter. Blair William & Co. IL now owns 1,751,274 shares of the company's stock worth $5,499,000 after acquiring an additional 1,469,249 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cardiff Oncology in the first quarter worth about $2,693,000. Laurion Capital Management LP bought a new stake in shares of Cardiff Oncology in the fourth quarter worth about $2,504,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Cardiff Oncology in the fourth quarter worth about $2,207,000. 16.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRDF. Jefferies Financial Group began coverage on Cardiff Oncology in a report on Tuesday, June 24th. They set a "hold" rating and a $3.50 price objective for the company. William Blair reiterated an "outperform" rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. LADENBURG THALM/SH SH began coverage on Cardiff Oncology in a report on Tuesday, July 8th. They set a "buy" rating and a $19.00 price objective for the company. Finally, HC Wainwright decreased their price objective on Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Cardiff Oncology has an average rating of "Moderate Buy" and an average price target of $10.63.

Cardiff Oncology Trading Down 1.2%

Shares of CRDF traded down $0.03 during mid-day trading on Friday, reaching $2.06. The company's stock had a trading volume of 317,869 shares, compared to its average volume of 1,404,722. Cardiff Oncology, Inc. has a 1-year low of $1.90 and a 1-year high of $5.64. The stock has a market cap of $136.72 million, a P/E ratio of -2.36 and a beta of 1.28. The business has a 50-day simple moving average of $2.90 and a two-hundred day simple moving average of $3.14.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last released its quarterly earnings data 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 business had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.11 million. Research analysts anticipate that Cardiff Oncology, Inc. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gary W. Pace purchased 15,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average cost of $2.45 per share, with a total value of $36,750.00. Following the acquisition, the director owned 1,345,676 shares in the company, valued at approximately $3,296,906.20. This trade represents a 1.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.70% of the company's stock.

Cardiff Oncology Profile

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.