Cardiff Oncology (NASDAQ:CRDF) Releases Earnings Results, Misses Estimates By $0.05 EPS

Cardiff Oncology (NASDAQ:CRDF) posted its earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05), FiscalAI reports. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 87.91%. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.09 million.

Cardiff Oncology Stock Down 3.5%

CRDF traded down $0.06 during trading on Friday, reaching $1.67. The company had a trading volume of 879,119 shares, compared to its average volume of 642,914. The stock has a market cap of $114.18 million, a P/E ratio of -2.49 and a beta of 1.36. The business has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.08. Cardiff Oncology has a 52 week low of $1.48 and a 52 week high of $4.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRDF. Wall Street Zen downgraded Cardiff Oncology from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Cardiff Oncology in a research report on Wednesday, January 28th. Piper Sandler lowered their price target on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cardiff Oncology in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.10.

Institutional Trading of Cardiff Oncology

A number of institutional investors have recently bought and sold shares of CRDF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 worth $108,000 after purchasing an additional 11,497 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Cardiff Oncology by 18.8% during the first quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock worth $198,000 after purchasing an additional 9,970 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $4,723,000 after purchasing an additional 104,409 shares during the last quarter. Invesco Ltd. lifted its position in shares of 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 during the last quarter. Finally, The Manufacturers Life Insurance Company lifted 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 purchasing an additional 4,232 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors.

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.