During the last session, Caredx Inc (NASDAQ:CDNA)’s traded shares were 1.02 million, with the beta value of the company hitting 1.77. At the end of the trading day, the stock’s price was $30.53, reflecting an intraday gain of 8.40% or $2.36. The 52-week high for the CDNA share is $34.84, that puts it down -14.12 from that peak though still a striking 84.28% gain since the share price plummeted to a 52-week low of $4.80. The company’s market capitalization is $1.61B, and the average intraday trading volume over the past 10 days was 0.94 million shares, and the average trade volume was 935.48K shares over the past three months.
Caredx Inc (CDNA) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.11. CDNA has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.0.
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Caredx Inc (NASDAQ:CDNA) trade information
Caredx Inc (CDNA) registered a 8.40% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.40% in intraday trading to $30.53, hitting a weekly high. The stock’s 5-day price performance is 0.30%, and it has moved by 7.01% in 30 days. Based on these gigs, the overall price performance for the year is 367.53%. The short interest in Caredx Inc (NASDAQ:CDNA) is 3.66 million shares and it means that shorts have 4.77 day(s) to cover.
The consensus price target of analysts on Wall Street is $34.5, which implies an increase of 11.51% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $15 and $40 respectively. As a result, CDNA is trading at a discount of -31.02% off the target high and 50.87% off the low.
Caredx Inc (CDNA) estimates and forecasts
Statistics show that Caredx Inc has outperformed its competitors in share price, compared to the industry in which it operates. Caredx Inc (CDNA) shares have gone up 234.03% during the last six months, with a year-to-date growth rate more than the industry average at 140.63% against 7.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 100.00% this quarter and then jump 111.80% in the quarter after that. In the rating firms’ projections, revenue will increase 16.10% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 79.53M as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to 81.52M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 67.19M and 65.57M respectively. In this case, analysts expect current quarter sales to grow by 18.40% and then jump by 24.30% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -21.96%. While earnings are projected to return 76.37% in 2024, the next five years will return 20.00% per annum.
CDNA Dividends
Caredx Inc is due to release its next quarterly earnings in November. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Caredx Inc (NASDAQ:CDNA)’s Major holders
Caredx Inc insiders own 3.51% of total outstanding shares while institutional holders control 97.60%, with the float percentage being 101.14%. ARK INVESTMENT MANAGEMENT LLC is the largest shareholder of the company, while 223.0 institutions own stock in it. As of 2024-06-30, the company held over 5.7 million shares (or 10.925% of all shares), a total value of $88.56 million in shares.
The next largest institutional holding, with 5.29 million shares, is of BLACKROCK INC.’s that is approximately 10.1283% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $82.1 million.
