Cardiff Oncology (NASDAQ:CRDF) Announces Quarterly Earnings Results

Cardiff Oncology (NASDAQ:CRDF) released its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07, Zacks reports. Cardiff Oncology had a negative return on equity of 77.21% and a negative net margin of 10,064.27%.

Cardiff Oncology Trading Up 9.0%

CRDF traded up $0.14 during trading on Tuesday, reaching $1.70. 983,466 shares of the company were exchanged, compared to its average volume of 1,353,703. Cardiff Oncology has a 52 week low of $1.48 and a 52 week high of $4.60. The firm has a 50 day moving average of $2.37 and a 200 day moving average of $2.26. The stock has a market cap of $114.51 million, a P/E ratio of -2.15 and a beta of 1.33.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRDF shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Cardiff Oncology in a research note on Wednesday, January 28th. Finally, Noble Financial initiated coverage on shares of Cardiff Oncology in a research report on Monday, January 5th. They issued an “outperform” rating and a $12.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.13.

Hedge Funds Weigh In On Cardiff Oncology

Several institutional investors have recently modified their holdings of CRDF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 purchasing an additional 11,497 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Cardiff Oncology by 18.8% in the first quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock valued at $198,000 after purchasing an additional 9,970 shares during the period. Geode Capital Management LLC raised its holdings 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 last quarter. Invesco Ltd. raised its holdings in shares of Cardiff Oncology by 24.9% during the second quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock valued at $75,000 after buying an additional 4,749 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 during the period. Institutional investors own 16.29% of the company’s stock.

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.