Cardiff Oncology (NASDAQ:CRDF) Releases Earnings Results, Beats Expectations By $0.03 EPS

Cardiff Oncology (NASDAQ:CRDF) posted its quarterly earnings data on Thursday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03, Zacks reports. Cardiff Oncology had a negative return on equity of 71.21% and a negative net margin of 10,064.27%.The firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.12 million.

Cardiff Oncology Price Performance

Shares of Cardiff Oncology stock traded down $0.06 on Friday, reaching $2.19. 1,400,840 shares of the company were exchanged, compared to its average volume of 743,100. The stock’s 50 day moving average price is $2.17 and its 200-day moving average price is $2.79. Cardiff Oncology has a 1-year low of $1.90 and a 1-year high of $5.64. The company has a market cap of $145.70 million, a P/E ratio of -2.77 and a beta of 1.68.

Wall Street Analysts Forecast Growth

CRDF has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiff Oncology in a research report on Wednesday, October 8th. HC Wainwright lowered their price objective on shares of Cardiff Oncology from $18.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.63.

Institutional Investors Weigh In On Cardiff Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Cardiff Oncology by 7.5% in the second quarter. Geode Capital Management LLC now owns 1,498,838 shares of the company’s stock valued at $4,723,000 after purchasing an additional 104,409 shares during the period. Bank of America Corp DE grew its holdings in shares of Cardiff Oncology by 189.3% during the second quarter. Bank of America Corp DE now owns 93,393 shares of the company’s stock worth $294,000 after buying an additional 61,110 shares during the last quarter. Rhumbline Advisers increased its position in Cardiff Oncology by 34.2% in the 2nd quarter. Rhumbline Advisers now owns 84,759 shares of the company’s stock valued at $267,000 after acquiring an additional 21,617 shares during the period. Glenview Trust co raised its stake in Cardiff Oncology by 79.9% during the 2nd quarter. Glenview Trust co now owns 43,128 shares of the company’s stock valued at $136,000 after acquiring an additional 19,150 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cardiff Oncology by 50.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,319 shares of the company’s stock worth $108,000 after acquiring an additional 11,497 shares during the period. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.