Tonix Pharmaceuticals stock halted ahead of FDA approval news
In a recent transaction, Jeffrey Adam Novack, the Secretary and General Counsel of CareDx, Inc. (NASDAQ:CDNA), sold 924 shares of the company's common stock. The shares were sold at a price of $17.72 each, amounting to a total transaction value of $16,373. Following this sale, Novack holds 126,911 shares of CareDx. The transaction comes as the $1.06 billion market cap company maintains strong financial health, with InvestingPro analysis showing the company holds more cash than debt and maintains a healthy current ratio of 3.94x.
The transaction, which took place on April 7, 2025, was part of a routine process to satisfy tax withholding obligations related to the vesting of restricted stock units. The stock, which has shown significant volatility with a 70% return over the past year, currently trades at $19 per share. Analysts maintain a bullish outlook on CareDx, with price targets ranging from $23.50 to $40 per share.
In other recent news, CareDx, Inc. reported impressive financial results for the fourth quarter and full-year 2024, with earnings per share (EPS) of $0.18, significantly outperforming the anticipated loss of $0.23. The company's revenue for the quarter reached $86.6 million, surpassing expectations and marking a 32% year-over-year increase. CareDx also reported a full-year revenue of $333.8 million, a 19% increase from the previous year, driven largely by testing services revenue. The company achieved a net income of $87.7 million for the quarter, primarily due to a $96.3 million reversal of litigation accrual.
Furthermore, CareDx has projected its 2025 revenue to be between $365 million and $375 million, indicating a potential 17% growth. Analysts at H.C. Wainwright have adjusted their price target for CareDx to $25.00, down from $26.00, while maintaining a Neutral rating, reflecting recent financial dynamics. In other developments, CareDx has amended the severance agreement for its CFO, Abhishek Jain, outlining enhanced benefits in the event of a change of control or termination. These recent developments highlight the company's strong financial performance and strategic planning for the future.
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