Cardiff Oncology (NASDAQ:CRDF) Issues Quarterly Earnings Results

Cardiff Oncology (NASDAQ:CRDF) announced its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07, Zacks reports. Cardiff Oncology had a negative return on equity of 77.21% and a negative net margin of 10,064.27%.

Cardiff Oncology Stock Performance

NASDAQ CRDF traded up $0.14 on Tuesday, reaching $1.70. The company’s stock had a trading volume of 983,466 shares, compared to its average volume of 1,353,703. Cardiff Oncology has a twelve month low of $1.48 and a twelve month high of $4.60. The firm’s 50 day moving average is $2.37 and its two-hundred day moving average is $2.26. The stock has a market cap of $114.51 million, a PE ratio of -2.15 and a beta of 1.33.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cardiff Oncology in a report on Wednesday, January 28th. Noble Financial started coverage on shares of Cardiff Oncology in a research report on Monday, January 5th. They set an “outperform” rating and a $12.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.13.

Institutional Trading of Cardiff Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDF. Franklin Resources Inc. purchased a new position in Cardiff Oncology during the 4th quarter worth approximately $3,388,000. Laurion Capital Management LP boosted its position in shares of Cardiff Oncology by 37.2% in the third quarter. Laurion Capital Management LP now owns 2,465,872 shares of the company’s stock worth $5,080,000 after buying an additional 668,590 shares during the period. Acorn Capital Advisors LLC boosted its position in shares of Cardiff Oncology by 39.3% in 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. Millennium Management LLC grew its holdings in shares of Cardiff Oncology by 441.5% during the fourth quarter. Millennium Management LLC now owns 194,420 shares of the company’s stock valued at $546,000 after buying an additional 158,519 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Cardiff Oncology by 7.5% during the second quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock valued at $4,723,000 after buying an additional 104,409 shares during the period. 16.29% of the stock is owned by institutional investors and hedge funds.

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.