Cardiff Oncology, Inc. (NASDAQ:CRDF) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.10.

Several equities analysts have recently issued reports on CRDF shares. Noble Financial started coverage on Cardiff Oncology in a research note on Monday, January 5th. They set an “outperform” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiff Oncology in a research note on Wednesday, January 21st. Wall Street Zen raised Cardiff Oncology from a “sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Piper Sandler reduced their price target 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 reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cardiff Oncology in a research note on Wednesday, January 28th.

Cardiff Oncology Stock Performance

CRDF opened at $1.78 on Tuesday. Cardiff Oncology has a 52-week low of $1.48 and a 52-week high of $4.56. The stock has a market capitalization of $121.68 million, a PE ratio of -2.58 and a beta of 1.42. The stock’s 50 day moving average price is $1.73 and its 200-day moving average price is $2.15.

Cardiff Oncology (NASDAQ:CRDF) last posted its earnings results on Tuesday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Cardiff Oncology had a negative return on equity of 82.01% and a negative net margin of 7,733.22%.The firm had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $0.13 million. Research analysts forecast that Cardiff Oncology will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardiff Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRDF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $108,000 after purchasing an additional 11,497 shares during the period. Rhumbline Advisers grew its stake in Cardiff Oncology by 18.8% in 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 period. Geode Capital Management LLC grew its stake in Cardiff Oncology by 7.5% in 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 period. Invesco Ltd. grew its stake in 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 purchasing an additional 4,749 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Cardiff Oncology by 23.9% in 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 period. 16.29% of the stock is owned by hedge funds and other 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.