Insider Buying: Jeffrey Purvin Acquires 5,000 Shares of Cardica Stock (CRDC)
Cardica (NASDAQ:CRDC) Director Jeffrey Purvin acquired 5,000 shares of the company’s stock on the open market in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $0.95 per share, for a total transaction of $4,750.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $9,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Cardica (NASDAQ:CRDC) traded up 0.01% on Tuesday, hitting $0.9202. 184,130 shares of the company’s stock traded hands. Cardica has a one year low of $0.82 and a one year high of $1.61. The stock’s 50-day moving average is $0.97 and its 200-day moving average is $1.06. The company’s market cap is $81.8 million.
Separately, analysts at Craig Hallum initiated coverage on shares of Cardica in a research note on Monday, May 12th. They set a “buy” rating and a $2.50 price target on the stock.
Cardica, Incdesigns, manufactures and markets automated anastomotic systems used by surgeons to perform anastomoses during on- or off-pump coronary artery bypass grafting (NASDAQ:CRDC) procedures.
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