Cardiff Oncology, Inc. (NASDAQ:CRDF) Short Interest Up 144.3% in March

Cardiff Oncology, Inc. (NASDAQ:CRDF) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,810,000 shares, a growth of 144.3% from the February 29th total of 1,150,000 shares. Based on an average trading volume of 1,540,000 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRDF. UBS Group AG boosted its stake in Cardiff Oncology by 176.0% during the 1st quarter. UBS Group AG now owns 15,690 shares of the company’s stock worth $26,000 after acquiring an additional 10,005 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Cardiff Oncology during the 1st quarter worth approximately $28,000. Virtu Financial LLC bought a new position in Cardiff Oncology in the 4th quarter valued at about $32,000. Jane Street Group LLC bought a new stake in shares of Cardiff Oncology during the 3rd quarter worth approximately $32,000. Finally, Two Sigma Investments LP bought a new position in Cardiff Oncology in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. HC Wainwright boosted their price target on shares of Cardiff Oncology from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Piper Sandler increased their target price on shares of Cardiff Oncology from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Friday, March 1st.

Cardiff Oncology Stock Performance

Shares of NASDAQ CRDF traded down $0.52 during trading on Thursday, reaching $5.23. The stock had a trading volume of 671,876 shares, compared to its average volume of 1,663,654. Cardiff Oncology has a one year low of $0.94 and a one year high of $6.42. The stock has a market cap of $233.68 million, a PE ratio of -5.85 and a beta of 1.72. The firm’s 50 day moving average price is $2.81 and its two-hundred day moving average price is $1.86.

Cardiff Oncology (NASDAQ:CRDF) last announced its earnings results on Thursday, February 29th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.05. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.08 million. Cardiff Oncology had a negative return on equity of 50.13% and a negative net margin of 8,492.01%. On average, research analysts expect that Cardiff Oncology will post -0.98 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.