Cardiff Oncology, Inc. (NASDAQ:CRDF) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $10.10.

CRDF has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Wall Street Zen downgraded shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Cardiff Oncology in a report on Wednesday, January 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cardiff Oncology in a report on Monday.

Hedge Funds Weigh In On Cardiff Oncology

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in Cardiff Oncology by 23.9% during the 1st quarter. Bank of America Corp DE now owns 51,119 shares of the company’s stock valued at $83,000 after acquiring an additional 9,855 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Cardiff Oncology during the 1st quarter valued at about $164,000. Sei Investments Co. purchased a new position in Cardiff Oncology during the 1st quarter valued at about $89,000. Virtu Financial LLC purchased a new position in Cardiff Oncology during the 4th quarter valued at about $108,000. Finally, XTX Topco Ltd increased its holdings in Cardiff Oncology by 40.5% during the 4th quarter. XTX Topco Ltd now owns 219,357 shares of the company’s stock valued at $616,000 after acquiring an additional 63,196 shares in the last quarter. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

Cardiff Oncology Stock Down 0.6%

Shares of CRDF opened at $1.78 on Friday. The company has a 50-day simple moving average of $1.70 and a 200-day simple moving average of $2.06. The company has a market capitalization of $121.70 million, a PE ratio of -2.66 and a beta of 1.36. Cardiff Oncology has a 52-week low of $1.48 and a 52-week high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.09 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. On average, research analysts anticipate that Cardiff Oncology will post -0.65 EPS for the current year.

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.