Orbimed Advisors LLC Acquires New Position in Cardiff Oncology, Inc. (NASDAQ:CRDF)

Orbimed Advisors LLC bought a new position in shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,538,462 shares of the company’s stock, valued at approximately $6,677,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Acorn Capital Advisors LLC acquired a new position in Cardiff Oncology during the fourth quarter worth $6,260,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Cardiff Oncology in the 4th quarter worth approximately $5,609,000. Geode Capital Management LLC increased its stake in Cardiff Oncology by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 982,878 shares of the company’s stock valued at $4,266,000 after purchasing an additional 54,646 shares in the last quarter. Laurion Capital Management LP purchased a new position in Cardiff Oncology in the 4th quarter valued at approximately $2,504,000. Finally, Millennium Management LLC raised its holdings in Cardiff Oncology by 188.8% during the fourth quarter. Millennium Management LLC now owns 440,944 shares of the company’s stock worth $1,914,000 after purchasing an additional 288,259 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

Cardiff Oncology Price Performance

CRDF stock opened at $2.75 on Tuesday. The company’s 50 day simple moving average is $3.11 and its 200-day simple moving average is $3.47. Cardiff Oncology, Inc. has a 12 month low of $2.01 and a 12 month high of $5.64. The firm has a market capitalization of $182.95 million, a PE ratio of -2.93 and a beta of 1.81.

Cardiff Oncology (NASDAQ:CRDF) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.09 million. Cardiff Oncology had a negative net margin of 6,238.17% and a negative return on equity of 73.97%. As a group, sell-side analysts anticipate that Cardiff Oncology, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price target on Cardiff Oncology from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday.

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.