In last trading session, Caredx Inc (NASDAQ:CDNA) saw 0.73 million shares changing hands with its beta currently measuring 1.46. Company’s recent per share price level of $8.53 trading at -$0.61 or -6.67% at ring of the bell on the day assigns it a market valuation of $441.68M. That closing price of CDNA’s stock is at a discount of -51.58% from its 52-week high price of $12.93 and is indicating a premium of 43.73% from its 52-week low price of $4.80. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.52 million shares which gives us an average trading volume of 923.23K if we extend that period to 3-months.
Caredx Inc (NASDAQ:CDNA) trade information
Upright in the red during last session for losing -6.67%, in the last five days CDNA remained trading in the red while hitting it’s week-highest on Tuesday, 04/09/24 when the stock touched $8.53 price level, adding 15.96% to its value on the day. Caredx Inc’s shares saw a change of -28.92% in year-to-date performance and have moved -11.42% in past 5-day. Caredx Inc (NASDAQ:CDNA) showed a performance of -18.99% in past 30-days. Number of shares sold short was 5.18 million shares which calculate 5.03 days to cover the short interests.
Caredx Inc (CDNA) estimates and forecasts
Statistics highlight that Caredx Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 45.07% of value to its shares in past 6 months, showing an annual growth rate of 26.56% while that of industry is 13.40. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -72.70% in the current quarter and calculating 22.20% increase in the next quarter. This year revenue growth is estimated to fall -4.90% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $63.5 million for the same. And 7 analysts are in estimates of company making revenue of $65.46 million in the next quarter that will end on Jun 2024.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -21.96% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 55.36% while estimates for its earnings growth in next 5 years are of 20.00%.
CDNA Dividends
Caredx Inc is more likely to be releasing its next quarterly report between May 08 and May 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Caredx Inc (NASDAQ:CDNA)’s Major holders
Insiders are in possession of 3.75% of company’s total shares while institution are holding 100.35 percent of that, with stock having share float percentage of 104.26%. Investors also watch the number of corporate investors in a company very closely, which is 100.35% institutions for Caredx Inc that are currently holding shares of the company. ARK Investment Management, LLC is the top institutional holder at CDNA for having 6.68 million shares of worth $46.76 million. And as of Sep 29, 2023, it was holding 12.33% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 5.44 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 10.04% of outstanding shares, having a total worth of $46.24 million.
On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 6.62 million shares of worth $46.35 million or 12.22% of the total outstanding shares. The later fund manager was in possession of 2.89 million shares on Aug 30, 2023, making its stake of worth around $26.9 million in the company or a holder of 5.33% of company’s stock.
