Insider Buying: Cardiff Oncology (NASDAQ:CRDF) CEO Acquires $29,890.63 in Stock

Cardiff Oncology, Inc. (NASDAQ:CRDF) CEO Mani Mohindru bought 24,703 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average cost of $1.21 per share, for a total transaction of $29,890.63. Following the completion of the transaction, the chief executive officer owned 24,703 shares of the company’s stock, valued at $29,890.63. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cardiff Oncology Price Performance

CRDF stock opened at $1.26 on Thursday. The firm has a market capitalization of $86.15 million, a P/E ratio of -1.88 and a beta of 1.36. Cardiff Oncology, Inc. has a 52-week low of $1.16 and a 52-week high of $4.55. The company’s 50 day simple moving average is $1.61 and its 200-day simple moving average is $1.95.

Cardiff Oncology (NASDAQ:CRDF) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). Cardiff Oncology had a negative return on equity of 95.51% and a negative net margin of 8,527.43%.The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.09 million. Sell-side analysts predict that Cardiff Oncology, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardiff Oncology

A number of hedge funds have recently modified their holdings of CRDF. Laurion Capital Management LP raised its holdings in shares of Cardiff Oncology by 7.3% during the fourth quarter. Laurion Capital Management LP now owns 2,646,738 shares of the company’s stock worth $7,437,000 after acquiring an additional 180,866 shares in the last quarter. Acorn Capital Advisors LLC grew its stake in Cardiff Oncology by 39.3% in the third quarter. Acorn Capital Advisors LLC now owns 1,962,084 shares of the company’s stock valued at $4,042,000 after purchasing an additional 553,317 shares in the last quarter. Geode Capital Management LLC grew its stake in Cardiff Oncology by 7.5% in the second quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock valued at $4,723,000 after purchasing an additional 104,409 shares in the last quarter. Franklin Resources Inc. acquired a new position in Cardiff Oncology in the 4th quarter worth about $3,388,000. Finally, State Street Corp increased its position in Cardiff Oncology by 4.0% in the 4th quarter. State Street Corp now owns 1,191,647 shares of the company’s stock worth $3,349,000 after purchasing an additional 45,288 shares during the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRDF. HC Wainwright downgraded Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday, June 1st. Craig Hallum downgraded Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research note on Wednesday, June 3rd. Piper Sandler decreased their price objective on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Monday, May 18th. Finally, TD Cowen downgraded Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.80.

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.