Piper Sandler Cuts Cardiff Oncology (NASDAQ:CRDF) Price Target to $6.00

Cardiff Oncology (NASDAQ:CRDF) had its price target cut by equities researchers at Piper Sandler from $10.00 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 234.26% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Noble Financial started coverage on shares of Cardiff Oncology in a report on Monday, January 5th. They set an “outperform” rating and a $12.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cardiff Oncology in a report on Wednesday, January 28th. Five 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, Cardiff Oncology presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.10.

Cardiff Oncology Stock Performance

Shares of NASDAQ CRDF traded up $0.10 during midday trading on Wednesday, hitting $1.80. The company’s stock had a trading volume of 844,212 shares, compared to its average volume of 1,330,559. Cardiff Oncology has a 1-year low of $1.48 and a 1-year high of $4.56. The firm’s fifty day moving average price is $2.36 and its 200-day moving average price is $2.26. The firm has a market cap of $120.91 million, a P/E ratio of -2.27 and a beta of 1.33.

Cardiff Oncology (NASDAQ:CRDF) last issued its earnings results on Thursday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. The firm had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $0.13 million. Cardiff Oncology had a negative net margin of 10,064.27% and a negative return on equity of 77.21%. As a group, research analysts predict that Cardiff Oncology will post -0.99 earnings per share for the current fiscal year.

Institutional Trading of Cardiff Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in CRDF. Flputnam Investment Management Co. increased its position in shares of Cardiff Oncology by 1,008.8% during the 3rd quarter. Flputnam Investment Management Co. now owns 597,233 shares of the company’s stock valued at $1,230,000 after purchasing an additional 543,370 shares during the period. AlphaCore Capital LLC bought a new stake in Cardiff Oncology in the second quarter worth about $320,000. Los Angeles Capital Management LLC acquired a new stake in Cardiff Oncology in the 2nd quarter valued at about $78,000. Integrity Alliance LLC. bought a new position in shares of Cardiff Oncology during the 2nd quarter valued at about $41,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cardiff Oncology in the 4th quarter worth approximately $44,000. 16.29% of the stock is currently owned by institutional investors.

Cardiff Oncology Company Profile

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.