Cardiff Oncology (NASDAQ:CRDF) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cardiff Oncology (NASDAQ:CRDF) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

CRDF has been the subject of a number of other reports. Weiss Ratings lowered Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. William Blair cut shares of Cardiff Oncology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th. HC Wainwright downgraded shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday, June 1st. TD Cowen lowered shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Craig Hallum cut Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.50.

Cardiff Oncology Stock Performance

NASDAQ:CRDF opened at $1.09 on Friday. The firm has a market cap of $84.79 million, a P/E ratio of -1.82 and a beta of 1.46. The stock has a 50 day moving average of $1.02 and a two-hundred day moving average of $1.43. Cardiff Oncology has a 12 month low of $0.76 and a 12 month high of $3.31.

Cardiff Oncology (NASDAQ:CRDF) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.06 million. Cardiff Oncology had a negative return on equity of 103.10% and a negative net margin of 7,885.43%. On average, research analysts forecast that Cardiff Oncology will post -0.63 earnings per share for the current year.

Insider Activity

In related news, CEO Mani Mohindru bought 24,703 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $1.21 per share, with a total value of $29,890.63. Following the completion of the transaction, the chief executive officer directly owned 24,703 shares of the company’s stock, valued at $29,890.63. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Pace bought 30,000 shares of the stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $1.22 per share, with a total value of $36,600.00. Following the purchase, the director owned 1,356,376 shares of the company’s stock, valued at $1,654,778.72. This trade represents a 2.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.80% 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 stock. Laurion Capital Management LP raised its position in Cardiff Oncology by 7.3% in the fourth quarter. Laurion Capital Management LP now owns 2,646,738 shares of the company’s stock valued at $7,437,000 after purchasing an additional 180,866 shares during the period. Acorn Capital Advisors LLC boosted its position in shares of Cardiff Oncology by 39.3% during the third quarter. Acorn Capital Advisors LLC now owns 1,962,084 shares of the company’s stock worth $4,042,000 after buying an additional 553,317 shares during the period. Geode Capital Management LLC boosted its position in shares of Cardiff Oncology by 7.5% during the second quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock worth $4,723,000 after buying an additional 104,409 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Cardiff Oncology in the fourth quarter valued at $3,388,000. Finally, State Street Corp raised its holdings in shares of Cardiff Oncology by 4.0% in the 4th quarter. State Street Corp now owns 1,191,647 shares of the company’s stock valued at $3,349,000 after buying an additional 45,288 shares during the period. Hedge funds and other institutional investors own 16.29% of the company’s stock.

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.