Stock Traders Buy High Volume of Cardiff Oncology Put Options (NASDAQ:CRDF)

Cardiff Oncology, Inc. (NASDAQ:CRDF) saw some unusual options trading activity on Tuesday. Stock traders bought 4,095 put options on the stock. This represents an increase of approximately 348% compared to the average volume of 914 put options.

Cardiff Oncology Stock Performance

Shares of NASDAQ:CRDF traded up $1.21 during midday trading on Tuesday, hitting $3.65. The company’s stock had a trading volume of 28,439,534 shares, compared to its average volume of 1,033,380. Cardiff Oncology has a 12-month low of $1.25 and a 12-month high of $6.42. The company has a market cap of $186.62 million, a P/E ratio of -3.57 and a beta of 1.89. The business’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $2.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of Cardiff Oncology in the second quarter worth $27,000. Ground Swell Capital LLC acquired a new position in shares of Cardiff Oncology in the 2nd quarter valued at $38,000. Dimensional Fund Advisors LP raised its position in Cardiff Oncology by 34.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,098 shares of the company’s stock valued at $42,000 after purchasing an additional 4,892 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Cardiff Oncology during the 3rd quarter worth $64,000. Finally, Invst LLC purchased a new position in Cardiff Oncology during the 2nd quarter worth $74,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Craig Hallum initiated coverage on Cardiff Oncology in a research report on Friday, September 6th. They set a “buy” rating and a $8.00 target price on the stock. HC Wainwright cut their price objective on Cardiff Oncology from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, November 8th.

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.