CareDx, Inc (NASDAQ:CDNA) Short Interest Down 6.6% in December

CareDx, Inc (NASDAQ:CDNA) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 3,120,000 shares, a decline of 6.6% from the November 30th total of 3,340,000 shares. Approximately 6.2% of the company’s stock are sold short. Based on an average daily volume of 842,500 shares, the short-interest ratio is presently 3.7 days.

CareDx Price Performance

NASDAQ CDNA opened at $21.41 on Thursday. The company has a fifty day moving average price of $22.90 and a 200-day moving average price of $23.81. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.93 and a beta of 1.84.

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

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now owns 330,024 shares in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its stake in CareDx by 1,085.4% in 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. Fred Alger Management LLC boosted its holdings in shares of CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after buying an additional 963,554 shares during the last quarter. FMR LLC grew its position in CareDx by 802.4% during the third quarter. FMR LLC now owns 625,550 shares of the company’s stock valued at $19,533,000 after buying an additional 556,230 shares during the period. Lord Abbett & CO. LLC purchased a new stake in CareDx during the third quarter worth about $10,873,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in CareDx by 78.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock worth $21,760,000 after acquiring an additional 306,222 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CDNA shares. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BTIG Research decreased their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

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.