HC Wainwright Has Lowered Expectations for Cardiff Oncology (NASDAQ:CRDF) Stock Price

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) had its target price reduced by analysts at HC Wainwright from $14.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 322.08% from the company's current price.

Separately, Craig Hallum began coverage on shares of Cardiff Oncology in a report on Friday, September 6th. They issued a "buy" rating and a $8.00 price target on the stock.

Cardiff Oncology Trading Down 24.7 %

Shares of NASDAQ CRDF traded down $1.01 during midday trading on Friday, reaching $3.08. 3,658,061 shares of the company were exchanged, compared to its average volume of 953,353. The stock has a market cap of $143.37 million, a P/E ratio of -3.38 and a beta of 1.93. Cardiff Oncology has a 1 year low of $0.94 and a 1 year high of $6.42. The stock has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $2.78.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Cardiff Oncology had a negative net margin of 6,143.91% and a negative return on equity of 62.65%. The firm had revenue of $0.16 million during the quarter, compared to analysts' expectations of $0.12 million. During the same period in the previous year, the firm earned ($0.25) EPS. As a group, analysts forecast that Cardiff Oncology will post -1 earnings per share for the current year.

Hedge Funds Weigh In On Cardiff Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its holdings 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 worth $2,699,000 after purchasing an additional 962,940 shares during the last quarter. Blair William & Co. IL raised its stake in Cardiff Oncology by 32.4% during the first quarter. Blair William & Co. IL now owns 172,180 shares of the company's stock valued at $919,000 after buying an additional 42,180 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cardiff Oncology by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,921,257 shares of the company's stock worth $10,260,000 after buying an additional 9,468 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Cardiff Oncology in the 2nd quarter worth approximately $27,000. Finally, Rhumbline Advisers bought a new stake in shares of Cardiff Oncology in the 2nd quarter valued at approximately $102,000. 16.29% of the stock is owned by institutional investors and hedge funds.

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.