Weiss Ratings Reiterates "Sell (D-)" Rating for Cardiff Oncology (NASDAQ:CRDF)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Cardiff Oncology (NASDAQ:CRDF), amid mixed reviews from other analysts including a "Hold" rating from Jefferies Financial Group.
• Despite the negative outlook from Weiss, Cardiff Oncology's stock has seen a 6.2% increase, reaching $2.38, with a current market capitalization of approximately $158.34 million.
• Recent insider transactions indicate confidence, as Director Gary W. Pace purchased 15,000 shares at an average price of $2.45, increasing his ownership stake in the company.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts have also issued reports about the stock. 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 price target for the company. HC Wainwright decreased their price target on shares of Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Cardiff Oncology in a research note on Wednesday, June 18th. Finally, LADENBURG THALM/SH SH started coverage on shares of Cardiff Oncology in a report on Tuesday, July 8th. They set a "buy" rating and a $19.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.63.

Cardiff Oncology Stock Up 6.2%

NASDAQ:CRDF traded up $0.14 during midday trading on Wednesday, hitting $2.38. The company had a trading volume of 1,421,399 shares, compared to its average volume of 1,353,949. Cardiff Oncology has a 52-week low of $1.90 and a 52-week high of $5.64. The stock's fifty day moving average price is $2.21 and its 200-day moving average price is $2.90. The company has a market capitalization of $158.34 million, a PE ratio of -2.74 and a beta of 1.62.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $0.12 million during the quarter, compared to analysts' expectations of $0.11 million. As a group, research analysts forecast that Cardiff Oncology will post -0.99 earnings per share for the current year.

Insider Transactions at Cardiff Oncology

In related news, Director Gary W. Pace acquired 15,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $2.45 per share, with a total value of $36,750.00. Following the transaction, the director directly owned 1,345,676 shares in the company, valued at approximately $3,296,906.20. This represents a 1.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cardiff Oncology

A number of large investors have recently made changes to their positions in CRDF. Baader Bank Aktiengesellschaft acquired a new stake in shares of Cardiff Oncology in the second quarter worth $32,000. Ledgewood Wealth Advisors LLC purchased a new position in Cardiff Oncology during the first quarter valued at $35,000. Belpointe Asset Management LLC purchased a new position in shares of Cardiff Oncology in the first quarter worth about $37,000. Integrity Alliance LLC. purchased a new position in shares of Cardiff Oncology in the second quarter worth about $41,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Cardiff Oncology in the second quarter worth about $43,000. 16.29% of the stock is owned by institutional investors and hedge funds.

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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