Cardiff Oncology, Inc. (NASDAQ:CRDF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Cardiff Oncology, Inc. (NASDAQ:CRDF) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.10.

CRDF has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a report on Wednesday, January 21st. Wall Street Zen cut shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a report on Saturday. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Cardiff Oncology in a report on Wednesday, January 28th. Finally, Piper Sandler reduced their target price 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.

Cardiff Oncology Price Performance

Cardiff Oncology stock opened at $1.67 on Friday. The firm has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.08. The stock has a market capitalization of $114.18 million, a PE ratio of -2.49 and a beta of 1.36. Cardiff Oncology has a 12-month low of $1.48 and a 12-month high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.09 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 87.91%. On average, analysts forecast that Cardiff Oncology will post -0.6 earnings per share for the current fiscal year.

Institutional Trading of Cardiff Oncology

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in Cardiff Oncology by 23.9% during the second 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 in the last quarter. Invesco Ltd. boosted its holdings in Cardiff Oncology by 24.9% during 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 in the last quarter. AlphaCore Capital LLC boosted its holdings in Cardiff Oncology by 8.2% during the third quarter. AlphaCore Capital LLC now owns 109,926 shares of the company’s stock worth $226,000 after buying an additional 8,351 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Cardiff Oncology by 70.1% during the third quarter. Raymond James Financial Inc. now owns 23,632 shares of the company’s stock worth $49,000 after buying an additional 9,740 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings 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 buying an additional 9,970 shares in the last quarter. 16.29% of the stock is currently owned by institutional investors.

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.