Cardiff Oncology (NASDAQ:CRDF) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Cardiff Oncology (NASDAQ:CRDF) announced its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05), FiscalAI reports. The business 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 82.01% and a negative net margin of 7,733.22%.

Cardiff Oncology Price Performance

Shares of CRDF stock traded down $0.06 on Friday, hitting $1.67. The company’s stock had a trading volume of 700,477 shares, compared to its average volume of 956,707. The stock has a market capitalization of $114.38 million, a price-to-earnings ratio of -2.42 and a beta of 1.36. Cardiff Oncology has a fifty-two week low of $1.48 and a fifty-two week high of $4.56. The firm’s fifty day moving average price is $1.72 and its 200-day moving average price is $2.08.

Institutional Trading of Cardiff Oncology

Several large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cardiff Oncology by 50.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,319 shares of the company’s stock valued at $108,000 after acquiring an additional 11,497 shares in the last quarter. Rhumbline Advisers boosted its position in Cardiff Oncology by 18.8% during the first quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock worth $198,000 after purchasing an additional 9,970 shares during the period. Geode Capital Management LLC raised its position in shares of 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 during the period. Invesco Ltd. lifted its stake in shares of Cardiff Oncology by 24.9% in the second quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock worth $75,000 after buying an additional 4,749 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Cardiff Oncology by 23.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock worth $69,000 after buying an additional 4,232 shares during the period. Institutional investors own 16.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CRDF shares. Piper Sandler decreased their price target on shares of Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Cardiff Oncology from a “sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Cardiff Oncology in a research report on Wednesday, January 28th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.10.

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.