Cardiff Oncology, Inc. (NASDAQ:CRDF) Sees Significant Increase in Short Interest

Cardiff Oncology, Inc. (NASDAQ:CRDF) saw a significant increase in short interest in the month of 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.

Cardiff Oncology Price Performance

NASDAQ CRDF traded down $0.41 on Friday, reaching $5.34. The company’s stock had a trading volume of 864,484 shares, compared to its average volume of 4,710,352. Cardiff Oncology has a twelve month low of $0.94 and a twelve month high of $6.42. The firm’s 50 day moving average is $2.89 and its two-hundred day moving average is $1.88.

Cardiff Oncology (NASDAQ:CRDF) last issued 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 company had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.08 million. As a group, analysts expect that Cardiff Oncology will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiff Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of CRDF. Virtu Financial LLC acquired a new stake in Cardiff Oncology during the 4th quarter worth about $32,000. Callan Capital LLC raised its holdings in Cardiff Oncology by 129.2% during the 3rd quarter. Callan Capital LLC now owns 31,147 shares of the company’s stock worth $43,000 after buying an additional 17,560 shares during the period. Two Sigma Investments LP raised its holdings in Cardiff Oncology by 28.7% during the 1st quarter. Two Sigma Investments LP now owns 30,000 shares of the company’s stock worth $50,000 after buying an additional 6,691 shares during the period. BlackRock Inc. raised its holdings in 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 buying an additional 7,972 shares during the period. Finally, Bank of America Corp DE raised its holdings in Cardiff Oncology by 145.0% during the 1st quarter. Bank of America Corp DE now owns 79,918 shares of the company’s stock worth $132,000 after buying an additional 47,297 shares during the period. 16.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRDF has been the subject of several research analyst reports. HC Wainwright upped their price objective on shares of Cardiff Oncology from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Piper Sandler upped their price objective on shares of Cardiff Oncology from $5.00 to $7.00 and gave the stock an “overweight” rating in a report on Friday, March 1st.

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.