Cardiff Oncology (NASDAQ:CRDF) Shares Up 1.1% – Should You Buy?

Cardiff Oncology, Inc. (NASDAQ:CRDF)’s share price traded up 1.1% during trading on Monday . The stock traded as high as $0.85 and last traded at $0.8359. 861,652 shares changed hands during trading, a decline of 48% from the average session volume of 1,650,542 shares. The stock had previously closed at $0.8269.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CRDF shares. Craig Hallum downgraded Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Wednesday, June 3rd. Wall Street Zen cut shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright lowered shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday, June 1st. Weiss Ratings lowered shares of Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Finally, TD Cowen cut shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cardiff Oncology presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Cardiff Oncology Price Performance

The stock has a market cap of $55.48 million, a PE ratio of -1.21 and a beta of 1.44. The business has a 50 day moving average price of $1.33 and a two-hundred day moving average price of $1.68.

Cardiff Oncology (NASDAQ:CRDF) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.09 million. Cardiff Oncology had a negative return on equity of 95.51% and a negative net margin of 8,527.43%. On average, sell-side analysts forecast that Cardiff Oncology, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Transactions at Cardiff Oncology

In other news, Director Gary W. Pace acquired 30,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was purchased at an average cost of $1.22 per share, with a total value of $36,600.00. Following the completion of the purchase, the director owned 1,356,376 shares in the company, valued at approximately $1,654,778.72. The trade was a 2.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mani Mohindru bought 24,703 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average price of $1.21 per share, with a total value of $29,890.63. Following the completion of the acquisition, the chief executive officer owned 24,703 shares of the company’s stock, valued at $29,890.63. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cardiff Oncology

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings 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 valued at $69,000 after acquiring an additional 4,232 shares in the last quarter. Invesco Ltd. raised its holdings in Cardiff Oncology by 24.9% in the 2nd quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock worth $75,000 after purchasing an additional 4,749 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Cardiff Oncology by 70.1% in the 3rd 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 in the last quarter. Bank of America Corp DE lifted its position in shares of Cardiff Oncology by 23.9% in the 1st quarter. Bank of America Corp DE now owns 51,119 shares of the company’s stock worth $83,000 after purchasing an additional 9,855 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Cardiff Oncology by 18.8% during the 1st quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock valued at $198,000 after purchasing an additional 9,970 shares in the last quarter. 16.29% of the stock is owned by hedge funds and other 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.