Gary W. Pace Acquires 275,000 Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) 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 bought 275,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were acquired 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 approximately $3,260,156.20. This trade represents a 26.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cardiff Oncology Stock Performance

NASDAQ CRDF traded down $0.09 during trading hours on Monday, reaching $2.56. 1,155,983 shares of the company's stock were exchanged, compared to its average volume of 1,434,309. The company's 50-day moving average is $3.59 and its two-hundred day moving average is $3.49. Cardiff Oncology, Inc. has a one year low of $2.01 and a one year high of $5.64. The company has a market capitalization of $169.97 million, a price-to-earnings ratio of -2.94 and a beta of 1.55.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last posted 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 return on equity of 77.94% and a negative net margin of 9,344.14%. The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.11 million. Research analysts predict that Cardiff Oncology, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRDF has been the topic of a number of research reports. LADENBURG THALM/SH SH initiated coverage on shares of Cardiff Oncology in a research report on Tuesday, July 8th. They set a "buy" rating and a $19.00 target price on the stock. William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a research note on Wednesday, June 18th. HC Wainwright upped their price target on Cardiff Oncology from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group started coverage on Cardiff Oncology in a research note on Tuesday, June 24th. They issued a "hold" rating and a $3.50 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.70.

Institutional Trading of Cardiff Oncology

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Cardiff Oncology during the 4th quarter worth approximately $25,000. Baader Bank Aktiengesellschaft bought a new position in shares of Cardiff Oncology during the 2nd quarter worth approximately $32,000. Ledgewood Wealth Advisors LLC bought a new position in shares of Cardiff Oncology during the 1st quarter worth approximately $35,000. ProShare Advisors LLC bought a new position in shares of Cardiff Oncology during the 4th quarter worth approximately $50,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Cardiff Oncology during the 1st quarter worth approximately $37,000. 16.29% of the stock is owned by institutional investors.

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.