HC Wainwright Cuts Cardiff Oncology (NASDAQ:CRDF) Price Target to $13.00

Cardiff Oncology (NASDAQ:CRDF) had its price target reduced by research analysts at HC Wainwright from $14.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 323.45% from the company’s current price.

Separately, Craig Hallum started coverage on Cardiff Oncology in a research report on Friday, September 6th. They set a “buy” rating and a $8.00 price objective on the stock.

Cardiff Oncology Trading Down 24.9 %

Shares of NASDAQ:CRDF traded down $1.02 during mid-day trading on Friday, reaching $3.07. The company had a trading volume of 2,935,404 shares, compared to its average volume of 950,038. The company’s 50-day moving average price is $2.69 and its 200-day moving average price is $2.78. Cardiff Oncology has a one year low of $0.94 and a one year high of $6.42. The firm has a market cap of $142.91 million, a price-to-earnings ratio of -3.31 and a beta of 1.93.

Cardiff Oncology (NASDAQ:CRDF) last issued its earnings results on Thursday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.12 million. Cardiff Oncology had a negative return on equity of 62.65% and a negative net margin of 6,143.91%. During the same quarter in the prior year, the business posted ($0.25) EPS. On average, research analysts anticipate that Cardiff Oncology will post -1 EPS for the current fiscal year.

Institutional Trading of Cardiff Oncology

Several institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its position in shares of Cardiff Oncology by 380.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,215,922 shares of the company’s stock valued at $2,699,000 after buying an additional 962,940 shares during the last quarter. Blair William & Co. IL boosted its position in Cardiff Oncology by 32.4% in the first quarter. Blair William & Co. IL now owns 172,180 shares of the company’s stock worth $919,000 after purchasing an additional 42,180 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cardiff Oncology by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,921,257 shares of the company’s stock valued at $10,260,000 after purchasing an additional 9,468 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Cardiff Oncology during the 2nd quarter valued at about $27,000. Finally, Rhumbline Advisers bought a new position in shares of Cardiff Oncology in the 2nd quarter worth approximately $102,000. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

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.