Cardiff Oncology (NASDAQ:CRDF) Downgraded to “Hold” Rating by Craig Hallum

Craig Hallum cut shares of Cardiff Oncology (NASDAQ:CRDF) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat reports. They currently have $2.00 target price on the stock.

CRDF has been the subject of a number of other research reports. HC Wainwright lowered shares of Cardiff Oncology from a “buy” rating to a “neutral” rating in a report on Monday. TD Cowen lowered shares of Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler dropped their target price on shares of Cardiff Oncology from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Wall Street Zen lowered shares of Cardiff Oncology from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.75.

Cardiff Oncology Trading Down 7.3%

NASDAQ:CRDF opened at $1.40 on Wednesday. The company has a market cap of $95.72 million, a PE ratio of -2.09 and a beta of 1.36. Cardiff Oncology has a twelve month low of $1.35 and a twelve month high of $4.56. The company’s 50 day moving average is $1.67 and its two-hundred day moving average is $2.03.

Cardiff Oncology (NASDAQ:CRDF) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Cardiff Oncology had a negative net margin of 8,527.43% and a negative return on equity of 95.51%. The business had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.09 million. As a group, analysts expect that Cardiff Oncology will post -0.66 EPS for the current fiscal year.

Institutional Trading of Cardiff Oncology

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in Cardiff Oncology by 23.9% in the second quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock valued at $69,000 after acquiring an additional 4,232 shares in the last quarter. Invesco Ltd. increased its stake in Cardiff Oncology by 24.9% in the second quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock valued at $75,000 after purchasing an additional 4,749 shares during the last quarter. AlphaCore Capital LLC increased its stake in Cardiff Oncology by 8.2% in the third quarter. AlphaCore Capital LLC now owns 109,926 shares of the company’s stock valued at $226,000 after purchasing an additional 8,351 shares during the last quarter. Raymond James Financial Inc. increased its stake in Cardiff Oncology by 70.1% in the third quarter. Raymond James Financial Inc. now owns 23,632 shares of the company’s stock valued at $49,000 after purchasing an additional 9,740 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Cardiff Oncology by 23.9% in the first quarter. Bank of America Corp DE now owns 51,119 shares of the company’s stock valued at $83,000 after purchasing an additional 9,855 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

Cardiff Oncology Company Profile

Cardiff Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts. The company is dedicated to the discovery, development and commercialization of novel small-molecule therapies designed to modulate the tumor microenvironment and enhance antitumor immune responses. By focusing on unique immuno-oncology targets, Cardiff seeks to address resistance pathways that limit the effectiveness of existing cancer treatments.

Cardiff’s pipeline comprises several small-molecule immunomodulators in various stages of preclinical and clinical development.