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

CareDx, Inc (NASDAQ:CDNA)’s stock price dropped 5.8% on Thursday . The company traded as low as $21.31 and last traded at $21.46. Approximately 67,620 shares were traded during trading, a decline of 92% from the average daily volume of 898,420 shares. The stock had previously closed at $22.78.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CDNA shares. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. Craig Hallum boosted their price objective on 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 research note on Tuesday, October 22nd. Finally, BTIG Research decreased their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Trading Down 1.8 %

The business’s fifty day moving average price is $26.68 and its 200-day moving average price is $21.61. The company has a market capitalization of $1.14 billion, a P/E ratio of -7.84 and a beta of 1.80.

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

Insiders Place Their Bets

In related news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction dated 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 sale, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at $10,903,992.96. The trade was a 9.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,340 shares of company stock valued at $3,025,415. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CareDx

A number of large investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in CareDx in the third quarter worth $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx during the third quarter valued at approximately $52,000. GAMMA Investing LLC boosted its position in shares of CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares in the last quarter. KBC Group NV purchased a new stake in shares of CareDx in the 3rd quarter worth approximately $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 valued at $103,000 after buying an additional 2,100 shares in 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.