Zacks Investment Research Downgrades Cardiff Oncology (NASDAQ:CRDF) to Sell

Zacks Investment Research cut shares of Cardiff Oncology (NASDAQ:CRDF – Get Rating) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Cardiff Oncology Inc. is a clinical-stage biotechnology company. It engages in developing treatment for cancer patients. The company’s product pipeline consists of a Phase 1b/2 study of onvansertib in combination with FOLFIRI/Avastin(R) in KRAS-mutated metastatic colorectal cancer; a Phase 2 study of onvansertib in combination with Zytiga(R) in Zytiga-resistant metastatic castration-resistant prostate cancer; and a Phase 2 study of onvansertib in combination with decitabine in relapsed or refractory acute myeloid leukemia. Cardiff Oncology Inc., formerly known as Trovagene Inc., is based in SAN DIEGO. “

CRDF has been the subject of a number of other reports. Robert W. Baird decreased their target price on Cardiff Oncology from $13.00 to $9.00 in a research note on Tuesday. Maxim Group lowered their target price on Cardiff Oncology from $25.00 to $14.00 in a research note on Monday, January 24th. Finally, HC Wainwright cut their price target on shares of Cardiff Oncology from $25.00 to $22.00 in a research note on Monday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and an average target price of $13.00.

Shares of Cardiff Oncology stock opened at $1.17 on Wednesday. The business has a fifty day simple moving average of $2.05 and a 200 day simple moving average of $3.99. The stock has a market cap of $50.67 million, a PE ratio of -1.43 and a beta of 2.04. Cardiff Oncology has a 12 month low of $1.13 and a 12 month high of $9.07.

Cardiff Oncology (NASDAQ:CRDF – Get Rating) last issued its earnings results on Friday, May 6th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Cardiff Oncology had a negative net margin of 9,447.37% and a negative return on equity of 24.78%. As a group, research analysts predict that Cardiff Oncology will post -0.99 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its holdings in Cardiff Oncology by 105.1% during the fourth quarter. Citigroup Inc. now owns 10,574 shares of the company’s stock worth $64,000 after purchasing an additional 5,419 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new stake in Cardiff Oncology during the third quarter worth about $74,000. Invesco Ltd. acquired a new position in Cardiff Oncology during the second quarter valued at approximately $87,000. HighVista Strategies LLC bought a new position in Cardiff Oncology in the third quarter valued at approximately $103,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Cardiff Oncology during the 4th quarter worth approximately $93,000. 56.43% of the stock is owned by hedge funds and other institutional investors.

Cardiff Oncology Company Profile (Get Rating)

Cardiff Oncology, Inc, a clinical-stage oncology company, develops medicine treatment for cancer patients in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor for anti-cancer therapeutics; CY140, an inhibitor of PLK1, PLK2, and PLK3 that is in phase 1/2 studies in solid tumors and leukemias; metastatic colorectal cancer that is in clinical trials; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.

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