CareDx (NASDAQ:CDNA) Trading 2.9% Higher

Shares of CareDx, Inc (NASDAQ:CDNA) were up 2.9% during mid-day trading on Friday . The stock traded as high as $31.21 and last traded at $30.75. Approximately 162,362 shares were traded during trading, a decline of 82% from the average daily volume of 895,421 shares. The stock had previously closed at $29.88.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright restated a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. StockNews.com lowered CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. The Goldman Sachs Group boosted their price objective on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company initiated coverage on CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. Finally, Craig Hallum upped their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.80.

CareDx Price Performance

The business’s 50 day simple moving average is $25.93 and its 200-day simple moving average is $16.92. The stock has a market capitalization of $1.53 billion, a P/E ratio of -8.74 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. Research analysts anticipate that CareDx, Inc will post -0.84 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the business’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 completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Alexander L. Johnson sold 21,557 shares of CareDx 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 transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of institutional investors and hedge funds have recently modified their holdings of CDNA. Millennium Management LLC raised its stake in CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after buying an additional 1,960,308 shares during the period. Bamco Inc. NY acquired a new position in shares of CareDx in the first quarter valued at $13,025,000. Fred Alger Management LLC raised its position in shares of CareDx by 517.9% in the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after purchasing an additional 963,554 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of CareDx during the 2nd quarter worth about $2,852,000. Finally, Vanguard Group Inc. lifted its position in CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 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.