Short Interest in Cardiff Oncology, Inc. (NASDAQ:CRDF) Expands By 21.6%

Cardiff Oncology, Inc. (NASDAQ:CRDF) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 9,950,000 shares, a growth of 21.6% from the November 30th total of 8,180,000 shares. Based on an average trading volume of 1,900,000 shares, the days-to-cover ratio is currently 5.2 days.

Cardiff Oncology Stock Up 1.9 %

Shares of Cardiff Oncology stock traded up $0.08 during midday trading on Tuesday, hitting $4.34. The company had a trading volume of 879,440 shares, compared to its average volume of 1,210,745. The stock has a market cap of $221.92 million, a price-to-earnings ratio of -4.62 and a beta of 1.89. Cardiff Oncology has a 12-month low of $1.44 and a 12-month high of $6.42. The company has a fifty day simple moving average of $3.22 and a 200 day simple moving average of $2.70.

Analyst Upgrades and Downgrades

CRDF has been the subject of a number of analyst reports. HC Wainwright decreased their target price on shares of Cardiff Oncology from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Piper Sandler increased their price objective on Cardiff Oncology from $7.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Craig Hallum initiated coverage on Cardiff Oncology in a research note on Friday, September 6th. They set a “buy” rating and a $8.00 target price on the stock.

Insider Buying and Selling at Cardiff Oncology

In other news, Director Gary W. Pace purchased 350,115 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $2.60 per share, with a total value of $910,299.00. Following the completion of the transaction, the director now owns 1,047,876 shares in the company, valued at $2,724,477.60. This represents a 50.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in shares of Cardiff Oncology during the second quarter valued at $27,000. Ground Swell Capital LLC purchased a new stake in Cardiff Oncology during the 2nd quarter valued at about $38,000. Dimensional Fund Advisors LP increased its holdings in shares of Cardiff Oncology by 34.4% in the second 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 period. SG Americas Securities LLC purchased a new position in shares of Cardiff Oncology in the third quarter worth about $64,000. Finally, Invst LLC purchased a new position in shares of Cardiff Oncology in the second quarter worth about $74,000. Hedge funds and other institutional investors own 16.29% of the company’s stock.

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.