CareDx (NASDAQ:CDNA) Shares Down 11.8% – Should You Sell?

CareDx, Inc (NASDAQ:CDNA) shares fell 11.8% on Wednesday . The stock traded as low as $27.90 and last traded at $28.35. 707,464 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 894,643 shares. The stock had previously closed at $32.16.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CDNA. The Goldman Sachs Group lifted their price objective on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Craig Hallum lifted their target price on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. Wells Fargo & Company began coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. Finally, BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.80.

CareDx Stock Up 0.3 %

The company has a 50-day simple moving average of $29.52 and a two-hundred day simple moving average of $19.08. The stock has a market cap of $1.61 billion, a P/E ratio of -10.24 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $67.20 million. As a group, sell-side analysts forecast that CareDx, Inc will post -0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CareDx news, Director Peter Maag sold 35,552 shares of the firm’s 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 owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,340 shares of company stock worth $3,025,415. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CareDx by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after purchasing an additional 180,334 shares during the last quarter. Gagnon Securities LLC increased its holdings in CareDx by 7.1% in the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after buying an additional 149,485 shares in the last quarter. Millennium Management LLC grew its stake in shares of CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after purchasing an additional 1,960,308 shares during the period. Renaissance Technologies LLC grew its stake in shares of CareDx by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after purchasing an additional 88,100 shares during the period. Finally, Bamco Inc. NY bought a new stake in shares of CareDx during the 1st quarter valued at about $13,025,000.

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.