Cardiff Oncology, Inc. (NASDAQ:CRDF) Short Interest Up 7.2% in October

Cardiff Oncology, Inc. (NASDAQ:CRDF) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 7,320,000 shares, an increase of 7.2% from the September 30th total of 6,830,000 shares. Based on an average daily trading volume, of 495,200 shares, the days-to-cover ratio is currently 14.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRDF. Assenagon Asset Management S.A. lifted its holdings in Cardiff Oncology by 380.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,215,922 shares of the company’s stock worth $2,699,000 after acquiring an additional 962,940 shares during the period. Bank of New York Mellon Corp bought a new stake in Cardiff Oncology during the second quarter worth $256,000. XTX Topco Ltd bought a new stake in Cardiff Oncology during the second quarter worth $185,000. Renaissance Technologies LLC raised its stake in shares of Cardiff Oncology by 82.9% in the second quarter. Renaissance Technologies LLC now owns 157,490 shares of the company’s stock valued at $350,000 after buying an additional 71,390 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Cardiff Oncology by 32.2% in the second quarter. Blair William & Co. IL now owns 227,630 shares of the company’s stock valued at $505,000 after buying an additional 55,450 shares during the period. Institutional investors own 16.29% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum started coverage on Cardiff Oncology in a research report on Friday, September 6th. They set a “buy” rating and a $8.00 price objective for the company.

Cardiff Oncology Stock Up 1.9 %

Cardiff Oncology stock traded up $0.06 during trading hours on Friday, hitting $3.18. The stock had a trading volume of 582,317 shares, compared to its average volume of 929,900. The stock has a market cap of $148.03 million, a price-to-earnings ratio of -3.53 and a beta of 1.96. Cardiff Oncology has a one year low of $0.94 and a one year high of $6.42. The business’s 50 day simple moving average is $2.59 and its 200-day simple moving average is $2.82.

Cardiff Oncology (NASDAQ:CRDF) last issued its quarterly 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 company had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.12 million. During the same period in the previous year, the company posted ($0.25) EPS. Research analysts anticipate that Cardiff Oncology will post -1 EPS for the current fiscal year.

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.