Cardiff Oncology (NASDAQ:CRDF) Announces Earnings Results

Cardiff Oncology (NASDAQ:CRDF) announced its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. Cardiff Oncology had a negative net margin of 7,885.43% and a negative return on equity of 93.24%. The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.06 million.

Cardiff Oncology Stock Down 5.7%

NASDAQ CRDF opened at $0.99 on Thursday. The stock has a market cap of $67.85 million, a P/E ratio of -1.65 and a beta of 1.49. The company’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $1.53. Cardiff Oncology has a twelve month low of $0.76 and a twelve month high of $3.31.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HC Wainwright lowered shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a research report on Monday, June 1st. Craig Hallum cut shares of Cardiff Oncology from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research note on Wednesday, June 3rd. TD Cowen downgraded Cardiff Oncology from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. William Blair lowered Cardiff Oncology from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Weiss Ratings raised Cardiff Oncology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cardiff Oncology has a consensus rating of “Hold” and an average price target of $7.50.

Insider Transactions at Cardiff Oncology

In other Cardiff Oncology news, CEO Mani Mohindru purchased 24,703 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was purchased at an average price of $1.21 per share, for a total transaction of $29,890.63. Following the completion of the purchase, the chief executive officer directly owned 24,703 shares in the company, valued at approximately $29,890.63. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary W. Pace acquired 30,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $1.22 per share, for a total transaction of $36,600.00. Following the completion of the acquisition, the director directly owned 1,356,376 shares of the company’s stock, valued at approximately $1,654,778.72. This represents a 2.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cardiff Oncology

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. acquired a new position in Cardiff Oncology during the 4th quarter worth about $3,388,000. Laurion Capital Management LP grew its holdings in Cardiff Oncology by 37.2% during the 3rd quarter. Laurion Capital Management LP now owns 2,465,872 shares of the company’s stock worth $5,080,000 after acquiring an additional 668,590 shares during the last quarter. Acorn Capital Advisors LLC increased its position in Cardiff Oncology by 39.3% in the 3rd quarter. Acorn Capital Advisors LLC now owns 1,962,084 shares of the company’s stock valued at $4,042,000 after acquiring an additional 553,317 shares in the last quarter. Millennium Management LLC increased its position in Cardiff Oncology by 441.5% in the 4th quarter. Millennium Management LLC now owns 194,420 shares of the company’s stock valued at $546,000 after acquiring an additional 158,519 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 104,409 shares during the last quarter. Institutional investors and hedge funds 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.