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

Cardiff Oncology, Inc. (NASDAQ:CRDF) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 10,450,000 shares, an increase of 10.2% from the January 15th total of 9,480,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the short-interest ratio is currently 5.0 days.

Cardiff Oncology Stock Performance

Cardiff Oncology stock opened at $4.29 on Tuesday. Cardiff Oncology has a 1 year low of $1.65 and a 1 year high of $6.42. The firm’s 50-day moving average is $4.01 and its 200-day moving average is $3.10. The company has a market cap of $219.35 million, a P/E ratio of -4.56 and a beta of 1.77.

Analysts Set New Price Targets

CRDF has been the subject of a number of research reports. Piper Sandler lifted their price target on Cardiff Oncology from $7.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright decreased their target price on Cardiff Oncology from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Insider Activity

In related news, Director Gary W. Pace bought 350,115 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $2.60 per share, with a total value of $910,299.00. Following the transaction, the director now owns 1,047,876 shares of the company’s stock, valued at approximately $2,724,477.60. This trade represents a 50.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Cardiff Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in shares of Cardiff Oncology in the 4th quarter worth approximately $25,000. ProShare Advisors LLC bought a new stake in Cardiff Oncology in the fourth quarter valued at $50,000. Raymond James Financial Inc. bought a new stake in Cardiff Oncology in the fourth quarter valued at $56,000. Voya Investment Management LLC acquired a new position in shares of Cardiff Oncology during the fourth quarter valued at $57,000. Finally, Caxton Corp bought a new position in shares of Cardiff Oncology during the fourth quarter worth about $58,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

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.