Insider Buying: Jeffrey Purvin Buys 5,000 Shares of Cardica Stock (CRDC)
Cardica (NASDAQ:CRDC) Director Jeffrey Purvin acquired 5,000 shares of Cardica stock in a transaction that occurred on 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 purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $9,500. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
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.
Shares of Cardica (NASDAQ:CRDC) traded down 1.52% during mid-day trading on Wednesday, hitting $0.9062. The stock had a trading volume of 41,399 shares. Cardica has a 52-week low of $0.82 and a 52-week 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 $80.6 million.
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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