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Cardiff Oncology (CRDF) Stock Jumps 11.3%: Will It Continue to Soar?

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Cardiff Oncology (CRDF - Free Report) shares ended the last trading session 11.3% higher at $11.49. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 12% loss over the past four weeks.

Shares of Cardiff Oncology rose following data presentations on its lead pipeline candidate ovansertib in KRAS-mutated cancers at healthcare conferences.

Price and Consensus

Price Consensus Chart for CRDF

This molecular diagnostic company is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +65.9%. Revenues are expected to be $0.08 million, up 7.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Cardiff Oncology, the consensus EPS estimate for the quarter has been revised 6.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CRDF going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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