HC Wainwright Lowers Cardiff Oncology (NASDAQ:CRDF) Price Target to $10.00

Key Points

• HC Wainwright has reduced its price target for Cardiff Oncology from $18.00 to $10.00, indicating a potential upside of 289.11% from the stock's previous close despite maintaining a "buy" rating.
• Cardiff Oncology reported a quarterly loss of ($0.21) EPS, missing analysts' expectations, and posted a negative net margin of 9,344.14%.
• Insider purchases included Director Gary W. Pace acquiring 275,000 shares at an average price of $2.45, raising his ownership in the company by 26.05%.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) had its target price cut by equities researchers at HC Wainwright from $18.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 289.11% from the stock's previous close.

A number of other research analysts also recently issued reports on CRDF. Jefferies Financial Group assumed coverage on shares of Cardiff Oncology in a research report on Tuesday, June 24th. They set a "hold" rating and a $3.50 target price on the stock. LADENBURG THALM/SH SH began coverage on shares of Cardiff Oncology in a report on Tuesday, July 8th. They set a "buy" rating and a $19.00 price objective on the stock. Finally, William Blair restated an "outperform" rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $10.10.

Cardiff Oncology Stock Up 2.4%

Cardiff Oncology stock opened at $2.57 on Wednesday. Cardiff Oncology has a 12-month low of $2.06 and a 12-month high of $5.64. The firm's fifty day moving average is $3.57 and its 200 day moving average is $3.48. The company has a market capitalization of $170.98 million, a PE ratio of -2.95 and a beta of 1.54.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last released 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). Cardiff Oncology had a negative net margin of 9,344.14% and a negative return on equity of 77.94%. The company had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.11 million. Sell-side analysts expect that Cardiff Oncology will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gary W. Pace purchased 275,000 shares of Cardiff Oncology stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average price of $2.45 per share, for a total transaction of $673,750.00. Following the completion of the transaction, the director owned 1,330,676 shares in the company, valued at $3,260,156.20. This represents a 26.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On Cardiff Oncology

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in Cardiff Oncology during the fourth quarter worth about $25,000. Baader Bank Aktiengesellschaft bought a new position in Cardiff Oncology during the second quarter worth about $32,000. Ledgewood Wealth Advisors LLC bought a new position in Cardiff Oncology during the first quarter worth about $35,000. Belpointe Asset Management LLC bought a new position in Cardiff Oncology during the first quarter worth about $37,000. Finally, Integrity Alliance LLC. bought a new position in Cardiff Oncology during the second quarter worth about $41,000. Institutional investors own 16.29% of the company's stock.

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.

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