Cardiff Oncology (NASDAQ:CRDF) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Cardiff Oncology (NASDAQ:CRDF) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Piper Sandler decreased their target price on Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Cardiff Oncology in a research note on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.10.

Cardiff Oncology Trading Down 3.5%

Shares of CRDF opened at $1.67 on Friday. The business’s 50 day moving average is $1.71 and its 200 day moving average is $2.08. The company has a market capitalization of $114.18 million, a PE ratio of -2.49 and a beta of 1.36. Cardiff Oncology has a 12-month low of $1.48 and a 12-month high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.09 million. Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 87.91%. Equities research analysts predict that Cardiff Oncology will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Cardiff Oncology

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Cardiff Oncology during the 1st quarter valued at approximately $164,000. Sei Investments Co. purchased a new position in Cardiff Oncology during the 1st quarter valued at approximately $89,000. Virtu Financial LLC purchased a new position in Cardiff Oncology during the 4th quarter valued at approximately $108,000. XTX Topco Ltd grew 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 buying an additional 63,196 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Cardiff Oncology by 441.5% during the 4th quarter. Millennium Management LLC now owns 194,420 shares of the company’s stock valued at $546,000 after buying an additional 158,519 shares in the last quarter. Hedge funds and other institutional investors own 16.29% of the company’s stock.

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.