Cardiff Oncology (NASDAQ:CRDF) Issues Earnings Results

Cardiff Oncology (NASDAQ:CRDF) announced its quarterly earnings results on Thursday. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05), FiscalAI reports. Cardiff Oncology had a negative net margin of 7,733.22% and a negative return on equity of 82.01%. The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.09 million.

Cardiff Oncology Stock Performance

Shares of NASDAQ CRDF traded up $0.04 during trading hours on Thursday, reaching $1.73. 522,359 shares of the stock were exchanged, compared to its average volume of 649,321. The firm has a market capitalization of $118.28 million, a price-to-earnings ratio of -2.51 and a beta of 1.36. Cardiff Oncology has a 52 week low of $1.48 and a 52 week high of $4.56. The stock’s fifty day simple moving average is $1.72 and its 200 day simple moving average is $2.08.

Hedge Funds Weigh In On Cardiff Oncology

A number of large investors have recently made changes to their positions in CRDF. Brooklyn Investment Group bought a new position in shares of Cardiff Oncology during the third quarter worth approximately $26,000. Engineers Gate Manager LP bought a new position in shares of Cardiff Oncology during the second quarter worth approximately $43,000. BNP Paribas Financial Markets increased its stake in shares of Cardiff Oncology by 335.1% during the second quarter. BNP Paribas Financial Markets now owns 15,437 shares of the company’s stock worth $49,000 after purchasing an additional 11,889 shares during the period. Raymond James Financial Inc. increased its stake in shares of Cardiff Oncology by 70.1% during the third quarter. Raymond James Financial Inc. now owns 23,632 shares of the company’s stock worth $49,000 after purchasing an additional 9,740 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Cardiff Oncology by 23.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock worth $69,000 after purchasing an additional 4,232 shares during the period. Institutional investors own 16.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen raised Cardiff Oncology from a “sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Piper Sandler reduced their target price on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Cardiff Oncology in a research note on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.10.

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.