Caredx Inc (NASDAQ:CDNA) price on Friday, December 27, fall -1.63% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $21.09.
A look at the stock’s price movement, the close in the last trading session was $21.44, moving within a range at $20.83 and $21.54. The beta value (5-Year monthly) was 1.801. Turning to its 52-week performance, $34.84 and $7.42 were the 52-week high and 52-week low respectively. Overall, CDNA moved -16.03% over the past month.
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Caredx Inc’s market cap currently stands at around $1.13 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 82.16M for the company’s revenue for the quarter, with a low and high estimate of 81.76M and 82.54M respectively. The average forecast suggests up to a 25.31% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 328.42M, representing a 17.16% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CDNA is a Hold. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend CDNA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CDNA’s current price about -8.66% and -8.54% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.51, while 7-day volatility ratio is 4.55% and 5.74% in the 30-day chart. Further, Caredx Inc (CDNA) has a beta value of 1.85, and an average true range (ATR) of 1.26. Analysts have given the company’s stock an average 52-week price target of $37.5, forecast between a low of $35 and high of $40. Looking at the price targets, the low is -65.96% off current price level while to achieve the yearly target high, price needs to move -89.66%. Nonetheless, investors will most likely welcome a -77.81% jump to $37.5 which is the analysts’ median price.
If we refocus on Caredx Inc (NASDAQ:CDNA), historical trading data shows that trading volumes averaged 0.8 over the past 10 days and 839.07K over the past 3 months. The company’s latest data on shares outstanding shows there are 53.11 million shares.
The 6.36% of Caredx Inc’s shares are in the hands of company insiders while institutional holders own 97.25% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.34 million on 2024-11-29, giving us a short ratio of 4.06. The data shows that as of 2024-11-29 short interest in Caredx Inc (CDNA) stood at 821.00004 of shares outstanding, with shares short falling to 3.45 million registered in 2024-10-31. Current price change has pushed the stock 75.75% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CDNA stock continues to rise going into the next quarter.
