Short Interest in Cardiff Oncology, Inc. (NASDAQ:CRDF) Grows By 7.2%

Cardiff Oncology, Inc. (NASDAQ:CRDF) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 7,320,000 shares, a growth of 7.2% from the September 30th total of 6,830,000 shares. Based on an average daily volume of 495,200 shares, the short-interest ratio is presently 14.8 days.

Institutional Trading of Cardiff Oncology

Hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in Cardiff Oncology by 380.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,215,922 shares of the company’s stock valued at $2,699,000 after purchasing an additional 962,940 shares during the period. Bank of New York Mellon Corp bought a new position in Cardiff Oncology in the second quarter valued at $256,000. XTX Topco Ltd purchased a new position in shares of Cardiff Oncology in the 2nd quarter worth about $185,000. Renaissance Technologies LLC lifted its position in Cardiff Oncology by 82.9% in the 2nd quarter. Renaissance Technologies LLC now owns 157,490 shares of the company’s stock worth $350,000 after buying an additional 71,390 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Cardiff Oncology by 32.2% during the second quarter. Blair William & Co. IL now owns 227,630 shares of the company’s stock valued at $505,000 after acquiring an additional 55,450 shares during the last quarter. Institutional investors own 16.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cardiff Oncology Stock Performance

Cardiff Oncology stock traded up $0.08 during mid-day trading on Friday, reaching $3.20. The stock had a trading volume of 599,377 shares, compared to its average volume of 929,981. Cardiff Oncology has a fifty-two week low of $0.94 and a fifty-two week high of $6.42. The stock’s 50-day simple moving average is $2.59 and its 200-day simple moving average is $2.82. The firm has a market capitalization of $148.96 million, a PE ratio of -3.53 and a beta of 1.96.

Cardiff Oncology (NASDAQ:CRDF) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.01). The business had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.12 million. Cardiff Oncology had a negative return on equity of 62.65% and a negative net margin of 6,143.91%. During the same quarter in the previous year, the company posted ($0.25) EPS. On average, research analysts forecast that Cardiff Oncology will post -1 earnings per share for the current fiscal 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.