CRDF Cardiff Oncology, Inc.
Executive Summary
Four major institutions reduced CRDF holdings in Q3 2025, with Morgan Stanley, BofA, Two Sigma, and Nuveen collectively trimming by ~$4.4M, while only Wells Fargo made a small add ($12K net). The 4:1 seller-to-buyer ratio and heavy passive/quant selling suggest a broad de-risking amid CRDF's ongoing clinical-stage losses and no near-term catalyst. The cluster is bearish but muted by the 45-day filing lag — partial unwinding may have already occurred.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$4.4M
▲ Buyers (1)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Wells Fargo | ADD | +26.8% | $121.0K | -$24.8K |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | TRIM | -61% | $2.5M | -$1.9M |
| Nuveen | TRIM | -65.3% | $1.8M | -$1.4M |
| Two Sigma | TRIM | -54% | $1.4M | -$976.8K |
| BofA | TRIM | -47.2% | $294.0K | -$192.6K |
Actionable Insight
The 45-day 13F lag means this selling may have already been unwound further or reversed. Watch for insider buying or pipeline catalysts (e.g., onvansertib trial readouts) as potential entry triggers. If no insider confidence materializes alongside the institutional exit, avoid the stock until a clear de-risking event.
Key Facts
- 4 of 5 tracked institutions reduced CRDF positions in Q3 2025, with aggregate seller net change of -$4.40M
- Morgan Stanley trimmed 61% of its shares (from $2.5M to $640K)
- Nuveen cut 65.3% of its stake (from $1.8M to $400K)
- Two Sigma reduced its quant position by 54% (from $1.4M to $420K)
- Only Wells Fargo added, increasing a tiny $121K position by 26.8% — negligible relative to selling
- The cluster is dominated by passive/quant managers, not active value or activist funds
Financial Impact
4 institutions sold $4.4M vs 1 institution bought $121K — net institutional outflow of ~$4.3M in Q3 2025
Risk Factors
- Clinical-stage biotech with no approved products — cash burn continues
- 45-day reporting lag; disclosed selling may already be stale
- Low market cap ($101M) amplifies any new selling pressure
- No activist or value-fund buying to counter the passive exit signal
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-CRDF-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
1d ago
|
Institutional Cluster
| $1.60 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 3, 2026
9d ago
|
8-K
| $1.40 $1.55 | ▲ +10.71% | ▲ +10.32% | — |
|
Jun 2, 2026
10d ago
|
Press Release
| $1.51 $1.40 | ▼ −7.28% | ▼ −6.59% | — |
|
May 29, 2026
14d ago
|
8-K
| $1.48 $1.51 | ▼ −2.03% | ▼ −1.88% | — |
|
May 21, 2026
22d ago
|
Press Release
| $1.78 $1.94 | ▲ +8.99% | ▲ +8.40% | — |
|
May 19, 2026
24d ago
|
8-K
| $1.84 $1.79 | ▲ +2.72% | ▲ +2.91% | — |
|
May 14, 2026
29d ago
|
8-K
| $1.67 $1.69 | ▲ +1.20% | ▲ +1.26% | — |
|
Apr 17, 2026
8w ago
|
Press Release
| $1.78 $1.65 | ▼ −7.30% | ▼ −6.65% | — |
|
Mar 19, 2026
12w ago
|
Press Release
| $1.82 $1.80 | ▼ −1.10% | ▲ +0.64% | — |
|
Feb 25, 2026
15w ago
|
8-K
| $1.91 $1.96 | ▲ +2.62% | ▲ +3.16% | — |
US Market Status
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