Point72 Asset Management L.P. Acquires Shares of 508,438 Cardiff Oncology, Inc. (NASDAQ:CRDF)

Point72 Asset Management L.P. bought a new stake in shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 508,438 shares of the company's stock, valued at approximately $2,207,000. Point72 Asset Management L.P. owned approximately 0.99% of Cardiff Oncology as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC raised its stake in Cardiff Oncology by 291.9% in the third quarter. Barclays PLC now owns 53,089 shares of the company's stock worth $141,000 after buying an additional 39,542 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of Cardiff Oncology in the 4th quarter valued at $105,000. Rhumbline Advisers raised its position in shares of Cardiff Oncology by 24.0% in the 4th quarter. Rhumbline Advisers now owns 53,172 shares of the company's stock worth $231,000 after acquiring an additional 10,290 shares in the last quarter. Callan Capital LLC lifted its stake in shares of Cardiff Oncology by 11.1% during the 4th quarter. Callan Capital LLC now owns 101,575 shares of the company's stock worth $441,000 after purchasing an additional 10,108 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cardiff Oncology by 68.7% during the 4th quarter. Bank of New York Mellon Corp now owns 288,615 shares of the company's stock worth $1,253,000 after purchasing an additional 117,514 shares during the last quarter. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

Cardiff Oncology Trading Up 5.2%

Shares of CRDF traded up $0.15 during midday trading on Monday, hitting $3.03. 1,306,373 shares of the company's stock traded hands, compared to its average volume of 1,136,207. Cardiff Oncology, Inc. has a 1 year low of $2.01 and a 1 year high of $5.64. The firm's fifty day moving average is $2.92 and its 200-day moving average is $3.44. The stock has a market capitalization of $201.57 million, a price-to-earnings ratio of -3.22 and a beta of 1.81.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). Cardiff Oncology had a negative return on equity of 73.97% and a negative net margin of 6,238.17%. The business had revenue of $0.11 million for the quarter, compared to analysts' expectations of $0.09 million. On average, equities research analysts anticipate that Cardiff Oncology, Inc. will post -0.99 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright boosted their target price on shares of Cardiff Oncology from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

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.