CareDx (NASDAQ:CDNA) Shares Down 3.5%

CareDx, Inc (NASDAQ:CDNA)’s stock price fell 3.5% during mid-day trading on Wednesday . The company traded as low as $28.88 and last traded at $29.07. 90,880 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 898,635 shares. The stock had previously closed at $30.12.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CDNA shares. Wells Fargo & Company started coverage on shares of CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target for the company. StockNews.com downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Craig Hallum upped their target price on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. Finally, BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.80.

CareDx Trading Up 2.1 %

The stock has a market cap of $1.56 billion, a P/E ratio of -8.74 and a beta of 1.77. The company’s fifty day simple moving average is $25.93 and its 200-day simple moving average is $16.92.

CareDx (NASDAQ:CDNA) last posted 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 net margin of 53.73% and a negative return on equity of 53.65%. The business had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million. As a group, analysts expect that CareDx, Inc will post -0.84 earnings per share for the current fiscal year.

Insider Activity

In other CareDx news, Director Peter Maag sold 35,552 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter Maag sold 35,552 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,340 shares of company stock worth $3,025,415. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares during the period. Plato Investment Management Ltd bought a new stake in CareDx during the 2nd quarter worth about $62,000. Quest Partners LLC bought a new stake in CareDx during the 4th quarter worth about $117,000. Meeder Asset Management Inc. acquired a new position in CareDx during the 2nd quarter valued at about $142,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after purchasing an additional 18,481 shares during the last quarter.

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.