Insider Buying: Cardiff Oncology, Inc. (NASDAQ:CRDF) Director Acquires 275,000 Shares of Stock

Key Points

• Cardiff Oncology Director Gary W. Pace acquired 275,000 shares at $2.45 each, totaling $673,750, which increased his ownership stake by 26.05%.
• The company's stock fell 4.8% to $2.37, with a market capitalization of $157.68 million, and a reported P/E ratio of -2.72.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $11.70 for Cardiff Oncology.

Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) Director Gary W. Pace acquired 275,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $2.45 per share, for a total transaction of $673,750.00. Following the completion of the purchase, the director directly owned 1,330,676 shares of the company's stock, valued at approximately $3,260,156.20. The trade was a 26.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cardiff Oncology Stock Down 4.8%

NASDAQ CRDF traded down $0.12 during trading hours on Thursday, hitting $2.37. The company's stock had a trading volume of 4,714,578 shares, compared to its average volume of 1,404,724. The stock has a fifty day moving average of $3.61 and a 200 day moving average of $3.51. The firm has a market capitalization of $157.68 million, a P/E ratio of -2.72 and a beta of 1.52. Cardiff Oncology, Inc. has a twelve month low of $2.01 and a twelve month high of $5.64.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.11 million. Cardiff Oncology had a negative return on equity of 75.32% and a negative net margin of 9,344.14%. On average, analysts predict that Cardiff Oncology, Inc. will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Cardiff Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dauntless Investment Group LLC acquired a new stake in shares of Cardiff Oncology during the first quarter worth $302,000. Nuveen Asset Management LLC raised its holdings in shares of Cardiff Oncology by 73.7% during the fourth quarter. Nuveen Asset Management LLC now owns 586,616 shares of the company's stock worth $2,546,000 after acquiring an additional 248,850 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Cardiff Oncology during the fourth quarter worth $2,504,000. American Century Companies Inc. raised its holdings in shares of Cardiff Oncology by 12.8% during the fourth quarter. American Century Companies Inc. now owns 53,955 shares of the company's stock worth $234,000 after acquiring an additional 6,140 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Cardiff Oncology by 8.9% during the fourth quarter. Northern Trust Corp now owns 337,092 shares of the company's stock worth $1,463,000 after acquiring an additional 27,489 shares during the period. 16.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on CRDF shares. LADENBURG THALM/SH SH began coverage on shares of Cardiff Oncology in a research note on Tuesday, July 8th. They set a "buy" rating and a $19.00 price objective on the stock. HC Wainwright increased their price target on shares of Cardiff Oncology from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Jefferies Financial Group began coverage on shares of Cardiff Oncology in a research note on Tuesday, June 24th. They set a "hold" rating and a $3.50 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of Cardiff Oncology in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cardiff Oncology has an average rating of "Moderate Buy" and an average price target of $11.70.

Cardiff Oncology Company 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.

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