Cardiff Oncology (NASDAQ:CRDF) Raised to “Sell” at Wall Street Zen

Cardiff Oncology (NASDAQ:CRDF) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. TD Cowen cut Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings lowered Cardiff Oncology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. HC Wainwright cut Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday, June 1st. William Blair downgraded Cardiff Oncology from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th. Finally, Craig Hallum lowered Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.50.

Cardiff Oncology Stock Performance

CRDF stock opened at $1.09 on Friday. The company has a market cap of $84.79 million, a price-to-earnings ratio of -1.82 and a beta of 1.46. Cardiff Oncology has a 12 month low of $0.76 and a 12 month high of $3.31. The firm has a 50-day moving average of $1.02 and a two-hundred day moving average of $1.44.

Cardiff Oncology (NASDAQ:CRDF) last released its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.06 million. Cardiff Oncology had a negative return on equity of 103.10% and a negative net margin of 7,885.43%. As a group, equities analysts forecast that Cardiff Oncology will post -0.63 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gary Pace purchased 30,000 shares of Cardiff Oncology stock in a transaction dated Thursday, June 18th. The shares were purchased at an average price of $1.22 per share, with a total value of $36,600.00. Following the transaction, the director owned 1,356,376 shares in the company, valued at $1,654,778.72. This represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mani Mohindru acquired 24,703 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $1.21 per share, for a total transaction of $29,890.63. Following the completion of the acquisition, the chief executive officer directly owned 24,703 shares of the company’s stock, valued at $29,890.63. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 8.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cardiff Oncology

Several large investors have recently modified their holdings of CRDF. Franklin Resources Inc. purchased a new position in shares of Cardiff Oncology during the 4th quarter worth $3,388,000. BlackRock Inc. purchased a new stake in Cardiff Oncology in the 2nd quarter valued at about $1,265,000. Laurion Capital Management LP raised its holdings in Cardiff Oncology by 37.2% in the 3rd quarter. Laurion Capital Management LP now owns 2,465,872 shares of the company’s stock valued at $5,080,000 after buying an additional 668,590 shares during the period. Acorn Capital Advisors LLC lifted its position 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 buying an additional 553,317 shares during the last quarter. Finally, Flputnam Investment Management Co. acquired a new position in Cardiff Oncology in the second quarter valued at about $322,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

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.