Short Interest in Cardiff Oncology, Inc. (NASDAQ:CRDF) Expands By 21.6%

Cardiff Oncology, Inc. (NASDAQ:CRDF) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 9,950,000 shares, a growth of 21.6% from the November 30th total of 8,180,000 shares. Based on an average trading volume of 1,900,000 shares, the short-interest ratio is currently 5.2 days.

Insider Activity at Cardiff Oncology

In other news, Director Gary W. Pace purchased 350,115 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $2.60 per share, for a total transaction of $910,299.00. Following the acquisition, the director now directly owns 1,047,876 shares of the company’s stock, valued at $2,724,477.60. This represents a 50.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Cardiff Oncology

Institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Cardiff Oncology in the second quarter worth approximately $27,000. Ground Swell Capital LLC bought a new position in Cardiff Oncology in the 2nd quarter valued at $38,000. Dimensional Fund Advisors LP increased its stake in Cardiff Oncology by 34.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,098 shares of the company’s stock worth $42,000 after purchasing an additional 4,892 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cardiff Oncology during the third quarter valued at $64,000. Finally, Invst LLC bought a new position in shares of Cardiff Oncology in the second quarter worth about $74,000. Institutional investors own 16.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CRDF has been the subject of several research reports. Craig Hallum started coverage on shares of Cardiff Oncology in a research report on Friday, September 6th. They set a “buy” rating and a $8.00 price objective for the company. Piper Sandler increased their price target on shares of Cardiff Oncology from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright decreased their price objective on Cardiff Oncology from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

Cardiff Oncology Price Performance

Shares of CRDF traded up $0.08 during midday trading on Tuesday, hitting $4.34. The stock had a trading volume of 879,440 shares, compared to its average volume of 1,210,745. Cardiff Oncology has a 1 year low of $1.44 and a 1 year high of $6.42. The stock’s 50 day moving average is $3.22 and its 200 day moving average is $2.70. The firm has a market cap of $221.92 million, a PE ratio of -4.62 and a beta of 1.89.

Cardiff Oncology Company Profile

Cardiff Oncology, Inc, a clinical-stage biotechnology company, develops novel therapies to treat various cancers in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor to treatment a range of solid tumor cancers and KRAS/NRAS-mutated metastatic colorectal and metastatic pancreatic cancer, as well as investigator-initiated trials in triple negative breast cancer and small cell lung cancer; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.