HC Wainwright Issues Pessimistic Forecast for Cardiff Oncology (NASDAQ:CRDF) Stock Price

Cardiff Oncology (NASDAQ:CRDF) had its target price decreased by equities researchers at HC Wainwright from $14.00 to $13.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 323.45% from the company’s current price.

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

Cardiff Oncology Stock Down 24.9 %

Shares of Cardiff Oncology stock traded down $1.02 during trading on Friday, hitting $3.07. The stock had a trading volume of 2,935,404 shares, compared to its average volume of 950,038. The stock has a 50 day simple moving average of $2.69 and a 200 day simple moving average of $2.78. The company has a market capitalization of $142.91 million, a PE ratio of -3.31 and a beta of 1.93. Cardiff Oncology has a 1 year low of $0.94 and a 1 year high of $6.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in Cardiff Oncology during the second quarter valued at approximately $27,000. Ground Swell Capital LLC acquired a new position in Cardiff Oncology during the 2nd quarter worth about $38,000. Dimensional Fund Advisors LP grew its position in shares of Cardiff Oncology by 34.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,098 shares of the company’s stock valued at $42,000 after buying an additional 4,892 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Cardiff Oncology during the 3rd quarter valued at approximately $64,000. Finally, Invst LLC bought a new position in Cardiff Oncology during the second quarter worth $74,000. 16.29% of the stock is owned by institutional investors.

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.