HC Wainwright Issues Pessimistic Forecast for Cardiff Oncology (NASDAQ:CRDF) Stock Price

Cardiff Oncology (NASDAQ:CRDF) had its target price reduced by HC Wainwright from $14.00 to $13.00 in a report released on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

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

Cardiff Oncology Trading Up 12.3 %

Shares of CRDF opened at $3.46 on Friday. The stock has a 50 day moving average of $2.76 and a 200 day moving average of $2.75. Cardiff Oncology has a 12 month low of $0.97 and a 12 month high of $6.42. The company has a market capitalization of $161.06 million, a price-to-earnings ratio of -3.68 and a beta of 1.93.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its holdings in shares of 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 in the last quarter. GSA Capital Partners LLP raised its position in Cardiff Oncology by 432.7% during the third quarter. GSA Capital Partners LLP now owns 186,650 shares of the company’s stock valued at $498,000 after purchasing an additional 151,613 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Cardiff Oncology during the second quarter valued at approximately $256,000. XTX Topco Ltd purchased a new position in Cardiff Oncology in the 2nd quarter worth about $185,000. Finally, Renaissance Technologies LLC increased its holdings in Cardiff Oncology by 82.9% during the 2nd quarter. Renaissance Technologies LLC now owns 157,490 shares of the company’s stock worth $350,000 after purchasing an additional 71,390 shares during the period. 16.29% of the stock is currently owned by institutional investors.

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.