Cardiff Oncology (NASDAQ:CRDF) Issues Earnings Results, Misses Expectations By $0.02 EPS

Cardiff Oncology (NASDAQ:CRDF) issued its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. Cardiff Oncology had a negative return on equity of 95.51% and a negative net margin of 8,527.43%.The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.06 million.

Cardiff Oncology Trading Up 1.9%

Shares of CRDF stock traded up $0.02 during trading hours on Tuesday, hitting $1.05. The company’s stock had a trading volume of 821,408 shares, compared to its average volume of 1,209,542. The business has a fifty day moving average of $1.17 and a 200-day moving average of $1.56. Cardiff Oncology has a twelve month low of $0.76 and a twelve month high of $3.31. The stock has a market cap of $71.92 million, a price-to-earnings ratio of -1.57 and a beta of 1.50.

Insider Activity at Cardiff Oncology

In related news, CEO Mani Mohindru bought 24,703 shares of Cardiff Oncology stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average price of $1.21 per share, with a total value of $29,890.63. Following the purchase, the chief executive officer owned 24,703 shares in the company, valued at $29,890.63. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary W. Pace bought 30,000 shares of the stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $1.22 per share, for a total transaction of $36,600.00. Following the acquisition, the director owned 1,356,376 shares in the company, valued at $1,654,778.72. The trade was a 2.26% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRDF. Laurion Capital Management LP grew its holdings in shares of Cardiff Oncology by 7.3% during the fourth quarter. Laurion Capital Management LP now owns 2,646,738 shares of the company’s stock worth $7,437,000 after buying an additional 180,866 shares in the last quarter. Acorn Capital Advisors LLC lifted its stake in shares of Cardiff Oncology by 39.3% during 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 period. Geode Capital Management LLC lifted its stake in shares of Cardiff Oncology by 7.5% during the second quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock valued at $4,723,000 after buying an additional 104,409 shares during the period. Franklin Resources Inc. purchased a new position in shares of Cardiff Oncology during the fourth quarter valued at approximately $3,388,000. Finally, State Street Corp boosted its position in Cardiff Oncology by 4.0% during the fourth quarter. State Street Corp now owns 1,191,647 shares of the company’s stock worth $3,349,000 after acquiring an additional 45,288 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

Analyst Ratings Changes

CRDF has been the subject of a number of research reports. Weiss Ratings upgraded shares of Cardiff Oncology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded Cardiff Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Craig Hallum cut Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a report on Wednesday, June 3rd. TD Cowen downgraded Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, HC Wainwright lowered Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cardiff Oncology has an average rating of “Hold” and an average price target of $7.50.

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.