Cardiff Oncology, Inc. (NASDAQ:CRDF) Short Interest Update

Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 10,450,000 shares, a growth of 10.2% from the January 15th total of 9,480,000 shares. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is currently 5.0 days.

Analysts Set New Price Targets

CRDF has been the subject of a number of recent research reports. HC Wainwright cut their target price on Cardiff Oncology from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Piper Sandler lifted their target price on shares of Cardiff Oncology from $7.00 to $10.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th.

Insiders Place Their Bets

In related news, Director Gary W. Pace purchased 350,115 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $2.60 per share, with a total value of $910,299.00. Following the completion of the acquisition, the director now owns 1,047,876 shares in the company, valued at $2,724,477.60. This trade represents a 50.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRDF. Orbimed Advisors LLC acquired a new stake in shares of Cardiff Oncology during the fourth quarter valued at about $6,677,000. Acorn Capital Advisors LLC acquired a new stake in Cardiff Oncology in the 4th quarter valued at approximately $6,260,000. Adage Capital Partners GP L.L.C. acquired a new stake in Cardiff Oncology in the 4th quarter valued at approximately $5,609,000. Geode Capital Management LLC raised its position in Cardiff Oncology by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 982,878 shares of the company's stock valued at $4,266,000 after purchasing an additional 54,646 shares during the period. Finally, State Street Corp lifted its stake in Cardiff Oncology by 3.4% during the third quarter. State Street Corp now owns 832,652 shares of the company's stock worth $2,223,000 after purchasing an additional 27,628 shares in the last quarter. Institutional investors and hedge funds own 16.29% of the company's stock.

Cardiff Oncology Stock Up 12.4 %

NASDAQ:CRDF traded up $0.53 on Wednesday, reaching $4.77. The company's stock had a trading volume of 1,900,814 shares, compared to its average volume of 1,049,898. Cardiff Oncology has a 12-month low of $1.65 and a 12-month high of $6.42. The stock has a 50 day moving average price of $4.04 and a 200 day moving average price of $3.13. The firm has a market cap of $243.63 million, a price-to-earnings ratio of -5.07 and a beta of 1.77.

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.