Cardiff Oncology (NASDAQ:CRDF) Issues Quarterly Earnings Results

Cardiff Oncology (NASDAQ:CRDF) posted its quarterly earnings data on Thursday. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03, Zacks reports. The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $0.12 million. Cardiff Oncology had a negative return on equity of 71.21% and a negative net margin of 10,064.27%.

Cardiff Oncology Trading Down 2.7%

CRDF stock traded down $0.06 during mid-day trading on Friday, reaching $2.19. 1,400,840 shares of the stock traded hands, compared to its average volume of 743,100. 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 is $2.17 and its 200-day moving average is $2.79. The company has a market cap of $145.70 million, a P/E ratio of -2.77 and a beta of 1.68.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright lowered their price target on Cardiff Oncology from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardiff Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $10.63.

Institutional Investors Weigh In On Cardiff Oncology

Institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in shares of Cardiff Oncology in the second quarter valued at about $43,000. BNP Paribas Financial Markets raised its holdings in shares of Cardiff Oncology by 335.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 15,437 shares of the company’s stock worth $49,000 after buying an additional 11,889 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Cardiff Oncology by 23.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock valued at $69,000 after purchasing an additional 4,232 shares during the last quarter. Invesco Ltd. increased its holdings in Cardiff Oncology by 24.9% during the 2nd quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock valued at $75,000 after purchasing an additional 4,749 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cardiff Oncology by 50.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,319 shares of the company’s stock worth $108,000 after acquiring an additional 11,497 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

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.