CareDx, Inc (NASDAQ:CDNA – Get Free Report) fell 5.2% during trading on Wednesday . The company traded as low as $27.84 and last traded at $27.89. 538,047 shares were traded during mid-day trading, a decline of 41% from the average session volume of 912,551 shares. The stock had previously closed at $29.41.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CDNA. Craig Hallum lifted their target price on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stephens lifted their price objective on shares of CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Raymond James downgraded CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.80.
CareDx Trading Down 5.9 %
The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -8.60 and a beta of 1.78. The company’s 50-day moving average is $22.65 and its 200-day moving average is $15.38.
CareDx (NASDAQ:CDNA – Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The firm had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. Equities research analysts forecast that CareDx, Inc will post -0.84 EPS for the current year.
Insider Buying and Selling at CareDx
In other news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. The disclosure for this sale can be found here. Insiders have sold a total of 91,340 shares of company stock worth $3,025,415 over the last 90 days. Insiders own 4.20% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CDNA. Vanguard Group Inc. lifted its holdings in CareDx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after buying an additional 180,334 shares during the period. Bellevue Group AG raised its position in shares of CareDx by 0.4% during the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after acquiring an additional 13,994 shares during the last quarter. Gagnon Securities LLC increased its position in CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock valued at $23,780,000 after purchasing an additional 149,485 shares during the period. Millennium Management LLC raised its holdings in CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after purchasing an additional 1,960,308 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares during the period.
CareDx Company Profile
CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.