Cardiff Oncology, Inc. (NASDAQ:CRDF) Sees Significant Growth in Short Interest

Cardiff Oncology, Inc. (NASDAQ:CRDF) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 6,720,000 shares, a growth of 16.3% from the July 31st total of 5,780,000 shares. Based on an average daily trading volume, of 573,000 shares, the days-to-cover ratio is presently 11.7 days.

Hedge Funds Weigh In On Cardiff Oncology

Several large investors have recently modified their holdings of CRDF. PFG Investments LLC purchased a new position in Cardiff Oncology during the first quarter worth $53,000. Assenagon Asset Management S.A. purchased a new stake in Cardiff Oncology in the 1st quarter worth about $1,351,000. Callan Capital LLC lifted its stake in Cardiff Oncology by 37.2% in the first quarter. Callan Capital LLC now owns 42,747 shares of the company’s stock worth $228,000 after purchasing an additional 11,600 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Cardiff Oncology by 32.4% during the first quarter. Blair William & Co. IL now owns 172,180 shares of the company’s stock valued at $919,000 after buying an additional 42,180 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Cardiff Oncology by 0.5% during the first quarter. Vanguard Group Inc. now owns 1,921,257 shares of the company’s stock valued at $10,260,000 after buying an additional 9,468 shares during the period. Institutional investors own 16.29% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Cardiff Oncology in a research note on Monday, May 6th.

Cardiff Oncology Price Performance

Shares of NASDAQ CRDF traded up $0.01 during midday trading on Monday, reaching $2.31. 214,300 shares of the stock traded hands, compared to its average volume of 1,013,979. The company’s 50 day moving average is $2.30 and its 200 day moving average is $3.28. Cardiff Oncology has a one year low of $0.94 and a one year high of $6.42. The stock has a market capitalization of $107.53 million, a PE ratio of -2.57 and a beta of 1.95.

Cardiff Oncology (NASDAQ:CRDF) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The business had revenue of $0.16 million during the quarter, compared to analysts’ expectations of $0.12 million. Cardiff Oncology had a negative return on equity of 62.65% and a negative net margin of 6,143.91%. During the same period in the previous year, the business earned ($0.25) earnings per share. As a group, equities analysts forecast that Cardiff Oncology will post -1 EPS for the current year.

About Cardiff Oncology

Cardiff Oncology, Inc, a clinical-stage biotechnology company, develops novel therapies to treat various cancers in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor to treatment a range of solid tumor cancers and KRAS/NRAS-mutated metastatic colorectal and metastatic pancreatic cancer, as well as investigator-initiated trials in triple negative breast cancer and small cell lung cancer; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.