Orbimed Advisors LLC Makes New Investment in Cardiff Oncology, Inc. (NASDAQ:CRDF)

Orbimed Advisors LLC bought a new stake in Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,538,462 shares of the company's stock, valued at approximately $6,677,000. Orbimed Advisors LLC owned approximately 3.01% of Cardiff Oncology as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in Cardiff Oncology in the fourth quarter valued at $25,000. Thoroughbred Financial Services LLC boosted its position in shares of Cardiff Oncology by 43.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 19,614 shares of the company's stock worth $85,000 after acquiring an additional 5,970 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Cardiff Oncology by 12.8% in the 4th quarter. American Century Companies Inc. now owns 53,955 shares of the company's stock valued at $234,000 after acquiring an additional 6,140 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Cardiff Oncology by 38.1% in the 4th quarter. Wells Fargo & Company MN now owns 32,064 shares of the company's stock valued at $139,000 after acquiring an additional 8,851 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Cardiff Oncology by 17.9% during the 4th quarter. Barclays PLC now owns 62,596 shares of the company's stock worth $272,000 after acquiring an additional 9,507 shares in the last quarter. 16.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, 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.

Cardiff Oncology Stock Performance

Cardiff Oncology stock opened at $2.75 on Tuesday. The company has a market capitalization of $182.95 million, a P/E ratio of -2.93 and a beta of 1.81. Cardiff Oncology, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.64. The stock has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $3.47.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.09 million. Cardiff Oncology had a negative return on equity of 73.97% and a negative net margin of 6,238.17%. As a group, analysts forecast 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.

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