Cardiff Oncology (NASDAQ:CRDF) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Cardiff Oncology (NASDAQ:CRDF) posted its quarterly earnings data on Thursday. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03, Zacks reports. The business had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $0.12 million. Cardiff Oncology had a negative return on equity of 71.21% and a negative net margin of 10,064.27%.

Cardiff Oncology Stock Down 2.7%

CRDF traded down $0.06 on Friday, reaching $2.19. The company’s stock had a trading volume of 1,400,840 shares, compared to its average volume of 743,100. The company has a market capitalization of $145.70 million, a price-to-earnings ratio of -2.77 and a beta of 1.68. Cardiff Oncology has a fifty-two week low of $1.90 and a fifty-two week high of $5.64. The stock has a 50 day moving average of $2.17 and a two-hundred day moving average of $2.79.

Institutional Trading of Cardiff Oncology

A number of large investors have recently bought and sold shares of CRDF. Engineers Gate Manager LP acquired a new stake in shares of Cardiff Oncology during the 2nd quarter valued at approximately $43,000. BNP Paribas Financial Markets raised its holdings in Cardiff Oncology by 335.1% during the second quarter. BNP Paribas Financial Markets now owns 15,437 shares of the company’s stock worth $49,000 after purchasing an additional 11,889 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 purchasing an additional 4,232 shares during the last quarter. Invesco Ltd. boosted its position in Cardiff Oncology by 24.9% during the second quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock worth $75,000 after purchasing an additional 4,749 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cardiff Oncology by 50.4% in 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 and hedge funds own 16.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRDF. HC Wainwright reduced their target price on Cardiff Oncology from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.63.

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.