Cardiff Oncology (NASDAQ:CRDF) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Cardiff Oncology (NASDAQ:CRDF) announced 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. The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.06 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%.

Cardiff Oncology Trading Up 1.9%

CRDF stock traded up $0.02 during mid-day trading on Tuesday, hitting $1.05. The stock had a trading volume of 800,972 shares, compared to its average volume of 1,208,830. Cardiff Oncology has a 52 week low of $0.76 and a 52 week high of $3.31. The firm has a market capitalization of $71.92 million, a P/E ratio of -1.57 and a beta of 1.50. The firm has a fifty day simple moving average of $1.17 and a 200 day simple moving average of $1.56.

Insiders Place Their Bets

In other news, Director Gary W. Pace purchased 30,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $1.22 per share, with a total value of $36,600.00. Following the completion of the purchase, the director owned 1,356,376 shares of the company’s stock, valued at $1,654,778.72. This trade represents a 2.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mani Mohindru bought 24,703 shares of Cardiff Oncology stock in a transaction that occurred on Thursday, June 18th. The stock was bought at an average price of $1.21 per share, for a total transaction of $29,890.63. Following the completion of the acquisition, the chief executive officer directly owned 24,703 shares of the company’s stock, valued at $29,890.63. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cardiff Oncology

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in shares of Cardiff Oncology by 23.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock worth $69,000 after purchasing an additional 4,232 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Cardiff Oncology by 24.9% in 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. Raymond James Financial Inc. grew its position in shares of Cardiff Oncology by 70.1% during the 3rd quarter. Raymond James Financial Inc. now owns 23,632 shares of the company’s stock valued at $49,000 after purchasing an additional 9,740 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Cardiff Oncology by 18.8% in the 1st quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock valued at $198,000 after acquiring an additional 9,970 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cardiff Oncology by 50.4% during the first 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. Institutional investors own 16.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRDF shares. Wall Street Zen cut shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. 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. TD Cowen cut Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Craig Hallum cut shares of Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Wednesday, June 3rd. Finally, HC Wainwright cut shares of 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Cardiff Oncology Company Profile

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.