Cardiff Oncology (NASDAQ:CRDF) Cut to Hold at Craig Hallum

Cardiff Oncology (NASDAQ:CRDF) was downgraded by research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat reports. They presently have a $2.00 price objective on the stock. Craig Hallum’s price target points to a potential upside of 41.84% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler lowered their price objective on shares of Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Wall Street Zen lowered shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Monday, May 18th. HC Wainwright lowered shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, TD Cowen lowered shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.75.

Cardiff Oncology Stock Performance

Shares of CRDF traded down $0.10 during mid-day trading on Wednesday, reaching $1.41. The company had a trading volume of 1,175,896 shares, compared to its average volume of 1,068,088. The company has a market capitalization of $96.40 million, a price-to-earnings ratio of -2.10 and a beta of 1.36. The company’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $2.04. Cardiff Oncology has a 1-year low of $1.40 and a 1-year high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.09 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. As a group, equities analysts forecast that Cardiff Oncology will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital Advisors Wealth Management LLC purchased a new position in Cardiff Oncology in the 4th quarter worth approximately $30,000. Tamar Securities LLC bought a new position in shares of Cardiff Oncology in the fourth quarter worth approximately $32,000. Brooklyn Investment Group bought a new position in shares of Cardiff Oncology in the third quarter worth approximately $26,000. R Squared Ltd bought a new position in shares of Cardiff Oncology in the fourth quarter worth approximately $36,000. Finally, Engineers Gate Manager LP bought a new position in shares of Cardiff Oncology in the second quarter worth approximately $43,000. 16.29% of the stock is currently owned by institutional investors.

About Cardiff Oncology

Cardiff Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts. The company is dedicated to the discovery, development and commercialization of novel small-molecule therapies designed to modulate the tumor microenvironment and enhance antitumor immune responses. By focusing on unique immuno-oncology targets, Cardiff seeks to address resistance pathways that limit the effectiveness of existing cancer treatments.

Cardiff’s pipeline comprises several small-molecule immunomodulators in various stages of preclinical and clinical development.