Belpointe Asset Management LLC Makes New Investment in Cardiff Oncology, Inc. $CRDF

Belpointe Asset Management LLC acquired a new stake in Cardiff Oncology, Inc. (NASDAQ:CRDF) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,640 shares of the company’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blair William & Co. IL lifted its position in Cardiff Oncology by 521.0% in the 1st quarter. Blair William & Co. IL now owns 1,751,274 shares of the company’s stock valued at $5,499,000 after acquiring an additional 1,469,249 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Cardiff Oncology in the first quarter worth approximately $2,693,000. Point72 Asset Management L.P. bought a new stake in Cardiff Oncology during the fourth quarter worth $2,207,000. Millennium Management LLC grew its holdings in Cardiff Oncology by 188.8% during the fourth quarter. Millennium Management LLC now owns 440,944 shares of the company’s stock worth $1,914,000 after buying an additional 288,259 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Cardiff Oncology by 183.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 396,118 shares of the company’s stock valued at $1,244,000 after buying an additional 256,264 shares during the last quarter. 16.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRDF shares. Jefferies Financial Group initiated coverage on shares of Cardiff Oncology in a report on Tuesday, June 24th. They set a “hold” rating and a $3.50 price objective on the stock. William Blair restated an “outperform” rating on shares of Cardiff Oncology in a report on Wednesday, June 18th. LADENBURG THALM/SH SH started coverage on shares of Cardiff Oncology in a research note on Tuesday, July 8th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, HC Wainwright dropped their target price on shares of Cardiff Oncology from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Insiders Place Their Bets

In other Cardiff Oncology news, Director Gary W. Pace bought 275,000 shares of Cardiff Oncology stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $2.45 per share, for a total transaction of $673,750.00. Following the completion of the purchase, the director directly owned 1,330,676 shares of the company’s stock, valued at approximately $3,260,156.20. This trade represents a 26.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 7.70% of the stock is owned by corporate insiders.

Cardiff Oncology Stock Down 2.0%

Shares of CRDF stock opened at $2.00 on Wednesday. The firm has a market cap of $133.06 million, a P/E ratio of -2.30 and a beta of 1.28. The company has a 50 day moving average of $2.80 and a 200-day moving average of $3.09. Cardiff Oncology, Inc. has a 12-month low of $1.90 and a 12-month high of $5.64.

Cardiff Oncology (NASDAQ:CRDF) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Cardiff Oncology had a negative net margin of 9,344.14% and a negative return on equity of 77.94%. The firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.11 million. As a group, equities analysts expect that Cardiff Oncology, Inc. will post -0.99 EPS for the current year.

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.