CareDx (NASDAQ:CDNA) Stock Price Down 3.5%

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

Analyst Ratings Changes

CDNA has been the subject of several research analyst reports. StockNews.com cut shares of CareDx from a “buy” rating to a “hold” rating in a report on Saturday. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. Wells Fargo & Company began coverage on shares of CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. The Goldman Sachs Group increased their target price on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Craig Hallum increased their target price on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.80.

CareDx Price Performance

The company’s 50-day moving average price is $25.35 and its two-hundred day moving average price is $16.74. The company has a market capitalization of $1.53 billion, a P/E ratio of -8.81 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $67.20 million. On average, analysts anticipate that CareDx, Inc will post -0.84 earnings per share for the current fiscal year.

Insider Activity at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated 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 in the company, valued at $9,284,746.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction dated 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 approximately $9,284,746.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction 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 $9,561,179.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,340 shares of company stock worth $3,025,415. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of large investors have recently modified their holdings of the business. Caxton Associates LP increased its stake in shares of CareDx by 97.2% in the 1st quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock valued at $1,020,000 after purchasing an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CareDx by 87.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after purchasing an additional 106,660 shares during the last quarter. Bamco Inc. NY bought a new position in shares of CareDx in the 1st quarter valued at $13,025,000. Vanguard Group Inc. increased its stake 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 valued at $45,537,000 after purchasing an additional 180,334 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of CareDx by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock valued at $1,294,000 after purchasing an additional 31,667 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.