Cardiff Oncology (NASDAQ:CRDF) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Cardiff Oncology (NASDAQ:CRDF) announced its earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. Cardiff Oncology had a negative return on equity of 95.51% and a negative net margin of 8,527.43%.The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.06 million.

Cardiff Oncology Price Performance

CRDF stock opened at $1.05 on Wednesday. The stock has a market cap of $71.93 million, a price-to-earnings ratio of -1.57 and a beta of 1.50. The company has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $1.55. Cardiff Oncology has a 1 year low of $0.76 and a 1 year high of $3.31.

Insiders Place Their Bets

In other news, Director Gary W. Pace purchased 30,000 shares of Cardiff Oncology stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $1.22 per share, for a total transaction of $36,600.00. Following the completion of the acquisition, the director owned 1,356,376 shares in the company, valued at approximately $1,654,778.72. This trade represents a 2.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mani Mohindru bought 24,703 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average price 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 in the company, valued at $29,890.63. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.50% of the company’s stock.

Institutional Trading of Cardiff Oncology

Institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of Cardiff Oncology by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 83,830 shares of the company’s stock valued at $236,000 after buying an additional 25,311 shares during the last quarter. HRT Financial LP raised its position in shares of Cardiff Oncology by 105.1% during the fourth quarter. HRT Financial LP now owns 29,408 shares of the company’s stock worth $82,000 after acquiring an additional 15,073 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Cardiff Oncology by 5,767.4% in the fourth quarter. Deutsche Bank AG now owns 43,888 shares of the company’s stock worth $123,000 after acquiring an additional 43,140 shares during the period. Glenview Trust co lifted its stake in shares of Cardiff Oncology by 79.9% in the second quarter. Glenview Trust co now owns 43,128 shares of the company’s stock worth $136,000 after acquiring an additional 19,150 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Cardiff Oncology by 34.2% in the second quarter. Rhumbline Advisers now owns 84,759 shares of the company’s stock valued at $267,000 after acquiring an additional 21,617 shares during the last quarter. Institutional investors own 16.29% of the company’s stock.

Analysts Set New Price Targets

CRDF has been the topic of a number of recent research reports. Craig Hallum lowered Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, June 3rd. HC Wainwright cut Cardiff Oncology from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. Wall Street Zen cut shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Cardiff Oncology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Finally, TD Cowen cut shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.50.

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.