Cardiff Oncology, Inc. (NASDAQ:CRDF) Receives Average Recommendation of “Hold” from Analysts

Cardiff Oncology, Inc. (NASDAQ:CRDF) has received an average recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.75.

A number of brokerages have commented on CRDF. TD Cowen downgraded shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Monday, May 18th. Wall Street Zen downgraded shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Piper Sandler reduced their price target on shares of Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, HC Wainwright downgraded shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a research note on Monday, June 1st.

Cardiff Oncology Price Performance

Shares of CRDF stock opened at $1.53 on Wednesday. The firm’s 50-day moving average is $1.66 and its two-hundred day moving average is $2.02. Cardiff Oncology has a 12 month low of $1.35 and a 12 month high of $4.56. The company has a market capitalization of $104.61 million, a PE ratio of -2.28 and a beta of 1.36.

Cardiff Oncology (NASDAQ:CRDF) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $0.09 million. Sell-side analysts forecast that Cardiff Oncology will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Cardiff Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in CRDF. 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 during the period. Rhumbline Advisers raised its stake in shares of Cardiff Oncology by 18.8% in the 1st quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock valued at $198,000 after acquiring an additional 9,970 shares during the period. Geode Capital Management LLC raised its stake in shares of Cardiff Oncology by 7.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock valued at $4,723,000 after acquiring an additional 104,409 shares during the period. Invesco Ltd. raised its stake in shares of Cardiff Oncology by 24.9% in the 2nd quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock valued at $75,000 after acquiring an additional 4,749 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Cardiff Oncology by 23.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock valued at $69,000 after acquiring an additional 4,232 shares during the period. 16.29% of the stock is owned by hedge funds and other institutional investors.

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.