Cardiff Oncology (NASDAQ:CRDF) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum initiated coverage on shares of Cardiff Oncology (NASDAQ:CRDF) in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

Cardiff Oncology Stock Up 9.5 %

Shares of NASDAQ CRDF opened at $2.31 on Friday. The stock has a market capitalization of $103.31 million, a P/E ratio of -2.57 and a beta of 1.95. The firm’s 50-day moving average price is $2.30 and its two-hundred day moving average price is $3.30. Cardiff Oncology has a 52-week low of $0.94 and a 52-week high of $6.42.

Cardiff Oncology (NASDAQ:CRDF) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.12 million. Cardiff Oncology had a negative net margin of 6,143.91% and a negative return on equity of 62.65%. During the same quarter in the prior year, the firm earned ($0.25) EPS. As a group, equities research analysts expect that Cardiff Oncology will post -1 earnings per share for the current year.

Institutional Trading of Cardiff Oncology

Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Cardiff Oncology by 380.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,215,922 shares of the company’s stock valued at $2,699,000 after acquiring an additional 962,940 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Cardiff Oncology during the second quarter valued at $256,000. XTX Topco Ltd bought a new stake in shares of Cardiff Oncology during the second quarter valued at about $185,000. Renaissance Technologies LLC lifted its holdings in Cardiff Oncology by 82.9% in the second quarter. Renaissance Technologies LLC now owns 157,490 shares of the company’s stock worth $350,000 after purchasing an additional 71,390 shares during the period. Finally, Blair William & Co. IL grew its position in Cardiff Oncology by 32.2% in the 2nd quarter. Blair William & Co. IL now owns 227,630 shares of the company’s stock valued at $505,000 after buying an additional 55,450 shares in the last quarter. 16.29% of the stock is currently owned by institutional investors.

About Cardiff Oncology

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.