MAI Capital Management Trims Holdings in Cardiff Oncology, Inc. $CRDF

MAI Capital Management lowered its position in Cardiff Oncology, Inc. (NASDAQ:CRDF) by 86.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 66,292 shares of the company’s stock after selling 438,905 shares during the period. MAI Capital Management’s holdings in Cardiff Oncology were worth $137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Readystate Asset Management LP acquired a new stake in Cardiff Oncology during the 3rd quarter valued at approximately $43,000. Post Resch Tallon Group Inc. acquired a new stake in shares of Cardiff Oncology in the third quarter worth $46,000. HB Wealth Management LLC purchased a new position in shares of Cardiff Oncology during the third quarter worth $148,000. Jeppson Wealth Management LLC acquired a new position in Cardiff Oncology during the third quarter valued at $25,000. Finally, Flputnam Investment Management Co. lifted its position in Cardiff Oncology by 1,008.8% during the third 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. Institutional investors and hedge funds own 16.29% of the company’s stock.

Cardiff Oncology Trading Up 4.8%

NASDAQ CRDF opened at $1.98 on Thursday. The stock has a market capitalization of $135.35 million, a price-to-earnings ratio of -2.87 and a beta of 1.32. The stock has a 50-day moving average of $2.26 and a 200 day moving average of $2.24. Cardiff Oncology, Inc. has a twelve month low of $1.48 and a twelve month high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. The business had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.13 million. Cardiff Oncology had a negative return on equity of 82.01% and a negative net margin of 7,733.22%. Equities analysts predict that Cardiff Oncology, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Piper Sandler dropped their target price on 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 raised Cardiff Oncology from a “sell” rating to a “hold” rating in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cardiff Oncology in a research note on Wednesday, January 28th. Finally, Noble Financial initiated coverage on shares of Cardiff Oncology in a report on Monday, January 5th. They set an “outperform” rating and a $12.00 target price for the company. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.