Jacobs Levy Equity Management Inc. Boosts Stock Position in 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. grew its position in shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) by 183.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396,118 shares of the company's stock after buying 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 large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of Cardiff Oncology in the fourth quarter valued at approximately $25,000. Corebridge Financial Inc. grew its stake in Cardiff Oncology by 40.8% in the 1st quarter. Corebridge Financial Inc. now owns 28,555 shares of the company's stock valued at $90,000 after buying an additional 8,277 shares in the last quarter. MetLife Investment Management LLC grew its stake in Cardiff Oncology by 34.5% in the 1st quarter. MetLife Investment Management LLC now owns 35,726 shares of the company's stock valued at $112,000 after buying an additional 9,167 shares in the last quarter. Rhumbline Advisers raised its holdings in Cardiff Oncology by 18.8% during the 1st quarter. Rhumbline Advisers now owns 63,142 shares of the company's stock valued at $198,000 after acquiring an additional 9,970 shares during the period. Finally, Ledgewood Wealth Advisors LLC purchased a new stake in shares of Cardiff Oncology during the first quarter worth $35,000. Hedge funds and other institutional investors own 16.29% of the company's stock.

Insider Transactions at Cardiff Oncology

In related news, Director Gary W. Pace purchased 15,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was acquired 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 in the company, valued at approximately $3,296,906.20. This represents a 1.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on Cardiff Oncology in a research report on Tuesday, June 24th. They issued a "hold" rating and a $3.50 price target for the company. William Blair restated an "outperform" rating on shares of Cardiff Oncology in a research note on Wednesday, June 18th. HC Wainwright decreased their price target on Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Cardiff Oncology in a report on Tuesday, July 8th. They issued a "buy" rating and a $19.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.63.

Cardiff Oncology Stock Performance

Cardiff Oncology stock traded up $0.01 during midday trading on Wednesday, hitting $2.01. 501,249 shares of the company's stock were exchanged, compared to its average volume of 1,004,518. The company has a market cap of $133.73 million, a P/E ratio of -2.31 and a beta of 1.28. The stock has a 50-day moving average price of $2.76 and a two-hundred day moving average price of $3.08. 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 issued its quarterly 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). 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 for the quarter, compared to the consensus estimate of $0.11 million. As a group, sell-side analysts expect that Cardiff Oncology, Inc. will post -0.99 earnings per share 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.