CareDx (NASDAQ:CDNA) Trading Down 5.8% – What’s Next?

CareDx, Inc (NASDAQ:CDNA) shares traded down 5.8% during trading on Thursday . The stock traded as low as $21.31 and last traded at $21.46. 67,620 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 898,420 shares. The stock had previously closed at $22.78.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BTIG Research dropped their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum lifted their target price on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Price Performance

The company has a market capitalization of $1.17 billion, a P/E ratio of -8.44 and a beta of 1.80. The stock’s 50 day simple moving average is $26.91 and its two-hundred day simple moving average is $21.52.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. As a group, equities research analysts expect that CareDx, Inc will post -0.7 earnings per share for the current year.

Insider Transactions at CareDx

In related news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction on 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 approximately $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred 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 sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of the 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 completion of the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 in the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares during the period. Harvest Fund Management Co. Ltd bought a new position in CareDx during the 3rd quarter worth $52,000. Plato Investment Management Ltd bought a new position in CareDx during the 2nd quarter worth $62,000. KBC Group NV bought a new position in CareDx during the 3rd quarter worth $99,000. Finally, nVerses Capital LLC increased its position in CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after buying an additional 2,100 shares during the period.

About CareDx

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.