Wells Fargo has recently initiated CareDx Inc (CDNA) stock to Underweight rating, as announced on August 28, 2024, according to Finviz. Earlier, on August 19, 2024, BTIG Research had raised the stock from a Neutral to Buy, setting a price target of $40. Raymond James also reduced Mkt Perform rating. Additionally, Craig Hallum raised Buy rating on May 1, 2024, with a target price of $15. Stephens analysts, in their report published on November 9, 2023, also raised their rating and set a price target of $10 for CareDx Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
CareDx Inc (CDNA) Stock Trading Recap
On Friday, CareDx Inc (CDNA) stock saw a modest uptick, ending the day at $30.62 which represents a slight increase of $0.09 or 0.29% from the prior close of $30.53. The stock opened at $29.88 and touched a low of $29.51 during the day, reaching a high of $31.01. The volume of shares traded was 0.60 million falling short of the average volume of 0.94 million.
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CDNA Stock Performance and Moving Averages
In recent trading, CareDx Inc (CDNA) stock price has shown some volatility, fluctuating -0.94% over the last five trades and 4.04% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 258.97%, and it has gained 89.72% in the previous three months. Currently, CDNA is trading at 1.75%, 4.28%, and 86.77% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CDNA, a Healthcare sector stock, is trading -12.11% below its 52-week high but remains 537.92% above its 52-week low. The Average True Range (ATR) (14 days) of 2.03 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
CareDx Inc’s Profitability and Valuation Ratios
CareDx Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -25.59% and a profit margin of -53.73%, with a gross margin of 258.97%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, CareDx Inc’s market capitalization stands at $1.61 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 5.44, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 6.09, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 6.43% of CareDx Inc (CDNA)’s shares, while financial institutions hold 96.86%.
Notable insider trades include Johnson Alexander L, See Remarks at CareDx Inc (CDNA), who sold 39466 shares on Aug 20 ’24, at $33.17 each, totaling $1.31 million. On Aug 21 ’24, Johnson Alexander L, See Remarks, sold 21557 shares for $32.58 each, amounting to $0.70 million. Additionally, on Aug 20 ’24, Maag Peter sold 35552 shares at $33.04 each, generating $1.17 million.
