Cardiff Oncology, Inc. (NASDAQ:CRDF) Short Interest Update

Cardiff Oncology, Inc. (NASDAQ:CRDF) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 2,810,000 shares, an increase of 144.3% from the February 29th total of 1,150,000 shares. Based on an average trading volume of 1,540,000 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Trading of Cardiff Oncology

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Cardiff Oncology in the fourth quarter valued at $32,000. Callan Capital LLC increased its holdings in shares of Cardiff Oncology by 129.2% in the third quarter. Callan Capital LLC now owns 31,147 shares of the company’s stock valued at $43,000 after purchasing an additional 17,560 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Cardiff Oncology by 28.7% during the first quarter. Two Sigma Investments LP now owns 30,000 shares of the company’s stock worth $50,000 after acquiring an additional 6,691 shares during the period. BlackRock Inc. boosted its position in shares of Cardiff Oncology by 1.1% during the 1st quarter. BlackRock Inc. now owns 757,818 shares of the company’s stock worth $1,250,000 after acquiring an additional 7,972 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Cardiff Oncology by 145.0% in the 1st quarter. Bank of America Corp DE now owns 79,918 shares of the company’s stock valued at $132,000 after purchasing an additional 47,297 shares during the last quarter. Institutional investors and hedge funds own 16.29% of the company’s stock.

Cardiff Oncology Stock Performance

Shares of CRDF stock traded down $0.52 during trading hours on Thursday, hitting $5.23. 671,876 shares of the company were exchanged, compared to its average volume of 1,663,654. The stock has a market capitalization of $233.68 million, a price-to-earnings ratio of -5.85 and a beta of 1.72. 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 $2.81 and its two-hundred day simple moving average is $1.86.

Cardiff Oncology (NASDAQ:CRDF) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. Cardiff Oncology had a negative net margin of 8,492.01% and a negative return on equity of 50.13%. The business had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.08 million. As a group, analysts anticipate that Cardiff Oncology will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of Cardiff Oncology from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. HC Wainwright raised their price objective on shares of Cardiff Oncology from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th.

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.