Jacobs Levy Equity Management Inc. Buys 256,264 Shares of Cardiff Oncology, Inc. $CRDF

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Cardiff Oncology by 183.2%, acquiring an additional 256,264 shares to own a total of 396,118 shares, valued at approximately $1,244,000.
• Several other institutional investors initiated positions in Cardiff Oncology, indicating growing interest, with 16.29% of the stock now owned by these investors.
• Cardiff Oncology's stock received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a mean price target of $10.63, despite a recent price cut from HC Wainwright from $18.00 to $10.00.

Jacobs Levy Equity Management Inc. lifted its stake in Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) by 183.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 396,118 shares of the company's stock after acquiring an additional 256,264 shares during the period. Jacobs Levy Equity Management Inc. owned 0.60% of Cardiff Oncology worth $1,244,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Cardiff Oncology in the 4th quarter valued at approximately $25,000. Ledgewood Wealth Advisors LLC bought a new position in shares of Cardiff Oncology in the 1st quarter valued at approximately $35,000. ProShare Advisors LLC bought a new position in shares of Cardiff Oncology in the 4th quarter valued at approximately $50,000. Raymond James Financial Inc. bought a new position in shares of Cardiff Oncology in the 4th quarter valued at approximately $56,000. Finally, Voya Investment Management LLC bought a new position in shares of Cardiff Oncology in the 4th quarter valued at approximately $57,000. 16.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Cardiff Oncology Trading Up 2.0%

Shares of CRDF stock opened at $2.08 on Friday. The stock has a 50 day moving average of $2.90 and a two-hundred day moving average of $3.14. Cardiff Oncology, Inc. has a 12 month low of $1.90 and a 12 month high of $5.64. The company has a market capitalization of $138.38 million, a P/E ratio of -2.39 and a beta of 1.28.

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). 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 net margin of 9,344.14% and a negative return on equity of 77.94%. Sell-side analysts predict that Cardiff Oncology, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gary W. Pace acquired 15,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $36,750.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.