CareDx (CDNA) Hits New 1-Year High at $28.00

CareDx Inc (NASDAQ:CDNA) reached a new 52-week high on Tuesday . The company traded as high as $28.00 and last traded at $27.86, with a volume of 22194 shares traded. The stock had previously closed at $26.83.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reissued a “neutral” rating and set a $22.00 target price on shares of CareDx in a report on Tuesday, September 18th. Zacks Investment Research downgraded CareDx from a “hold” rating to a “sell” rating in a report on Monday, September 10th. Piper Jaffray Companies lifted their target price on CareDx to $42.00 in a report on Wednesday, September 5th. Finally, BidaskClub raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.90.

The company has a quick ratio of 1.83, a current ratio of 2.16 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -37.29 and a beta of 0.94.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, August 9th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. CareDx had a negative return on equity of 108.99% and a negative net margin of 121.92%. The company had revenue of $17.82 million during the quarter, compared to the consensus estimate of $15.30 million. equities research analysts anticipate that CareDx Inc will post -0.94 earnings per share for the current fiscal year.

In related news, insider Peter Maag sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $23.10, for a total value of $346,500.00. Following the completion of the transaction, the insider now owns 439,747 shares of the company’s stock, valued at $10,158,155.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Brian Bell sold 16,355 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $25.06, for a total value of $409,856.30. Following the completion of the transaction, the chief financial officer now directly owns 52,238 shares of the company’s stock, valued at approximately $1,309,084.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,962 shares of company stock valued at $1,594,372. 3.40% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in CareDx by 737.0% in the second quarter. Northern Trust Corp now owns 369,484 shares of the company’s stock valued at $4,523,000 after purchasing an additional 325,341 shares in the last quarter. Bank of New York Mellon Corp raised its stake in CareDx by 128.8% in the second quarter. Bank of New York Mellon Corp now owns 155,802 shares of the company’s stock valued at $1,907,000 after purchasing an additional 87,698 shares in the last quarter. Casdin Capital LLC acquired a new position in CareDx in the second quarter valued at about $2,448,000. Millennium Management LLC raised its stake in CareDx by 51.5% in the second quarter. Millennium Management LLC now owns 242,613 shares of the company’s stock valued at $2,970,000 after purchasing an additional 82,461 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in CareDx in the second quarter valued at about $197,000. 72.88% of the stock is owned by institutional investors and hedge funds.

CareDx Company Profile (NASDAQ:CDNA)

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

See Also: Hedge Funds

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