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

Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) was the recipient of 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 days-to-cover ratio is presently 5.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Craig Hallum assumed coverage on Cardiff Oncology in a research note on Friday, September 6th. They set a "buy" rating and a $8.00 target price for the company. Piper Sandler lifted their price objective on shares of Cardiff Oncology from $7.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, HC Wainwright dropped their price objective on shares of Cardiff Oncology from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, November 8th.

Insiders Place Their Bets

In other Cardiff Oncology news, Director Gary W. Pace purchased 350,115 shares of Cardiff Oncology stock in a transaction that occurred 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 completion of the acquisition, the director now owns 1,047,876 shares of the company's stock, valued at approximately $2,724,477.60. This trade represents a 50.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Cardiff Oncology by 1.9% during the third quarter. Geode Capital Management LLC now owns 928,232 shares of the company's stock worth $2,479,000 after buying an additional 17,557 shares in the last quarter. State Street Corp increased its position 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 acquiring an additional 27,628 shares during the period. MAI Capital Management raised its stake in Cardiff Oncology by 0.7% in the 3rd quarter. MAI Capital Management now owns 663,363 shares of the company's stock worth $1,771,000 after purchasing an additional 4,569 shares in the last quarter. Blair William & Co. IL boosted its holdings 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 purchasing an additional 55,450 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Cardiff Oncology by 432.7% during the 3rd quarter. GSA Capital Partners LLP now owns 186,650 shares of the company's stock worth $498,000 after purchasing an additional 151,613 shares in the last quarter. 16.29% of the stock is owned by institutional investors and hedge funds.

Cardiff Oncology Stock Up 1.9 %

Shares of Cardiff Oncology stock traded up $0.08 on Tuesday, hitting $4.34. The stock had a trading volume of 886,808 shares, compared to its average volume of 1,211,328. The stock has a market cap of $221.92 million, a price-to-earnings ratio of -4.62 and a beta of 1.89. Cardiff Oncology has a twelve month low of $1.44 and a twelve month high of $6.42. The business's 50 day moving average is $3.28 and its two-hundred day moving average is $2.72.

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.