Caredx Inc (NASDAQ:CDNA) has a beta value of 1.84 and has seen 1.71 million shares traded in the last trading session. The company, currently valued at $1.21B, closed the last trade at $22.90 per share which meant it lost -$0.03 on the day or -0.13% during that session. The CDNA stock price is -52.14% off its 52-week high price of $34.84 and 73.32% above the 52-week low of $6.11. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.66 million shares traded. The 3-month trading volume is 911.86K shares.
The consensus among analysts is that Caredx Inc (CDNA) is Buy stock at the moment, with a recommendation rating of 2.11. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 3 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.03.
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Caredx Inc (NASDAQ:CDNA) trade information
Sporting -0.13% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the CDNA stock price touched $22.90 or saw a rise of 1.97%. Year-to-date, Caredx Inc shares have moved 90.83%, while the 5-day performance has seen it change 1.33%. Over the past 30 days, the shares of Caredx Inc (NASDAQ:CDNA) have changed -28.88%. Short interest in the company has seen 3.48 million shares shorted with days to cover at 3.92.
Wall Street analysts have a consensus price target for the stock at $34.5, which means that the shares’ value could jump 33.62% from current levels. The projected low price target is $15.0 while the price target rests at a high of $40.0. In that case, then, we find that the current price level is -74.67% off the targeted high while a plunge would see the stock lose 34.5% from current levels.
Caredx Inc (CDNA) estimates and forecasts
Figures show that Caredx Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 118.51% over the past 6 months, with this year growth rate of 142.19%, compared to 7.70% for the industry. Revenue growth from the last financial year stood is estimated to be 16.30%.
9 analysts offering their estimates for the company have set an average revenue estimate of 81.48M for the current quarter. 9 have an estimated revenue figure of 83.4M for the next ending quarter. Year-ago sales stood 65.57M and 72.05M respectively for this quarter and the next, and analysts expect sales will grow by 24.30% for the current quarter and 16.30% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -21.96% over the past 5 years. Earnings growth for 2024 is a modest 79.76% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
CDNA Dividends
Caredx Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Caredx Inc (NASDAQ:CDNA)’s Major holders
Insiders own 3.51% of the company shares, while shares held by institutions stand at 93.54% with a share float percentage of 96.94%. Investors are also buoyed by the number of investors in a company, with Caredx Inc having a total of 244.0 institutions that hold shares in the company. The top two institutional holders are ARK INVESTMENT MANAGEMENT LLC with over 5.7 million shares worth more than $88.56 million. As of 2024-06-30, ARK INVESTMENT MANAGEMENT LLC held 10.925% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 5.29 million shares as of 2024-06-30. The firm’s total holdings are worth over $82.1 million and represent 10.1283% of shares outstanding.
