CareDx (NASDAQ:CDNA) Shares Gap Down to $9.68

CareDx, Inc (NASDAQ:CDNA) gapped down before the market opened on Tuesday . The stock had previously closed at $9.68, but opened at $9.40. CareDx shares last traded at $9.73, with a volume of 86,237 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com assumed coverage on CareDx in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Stephens raised CareDx from an “equal weight” rating to an “overweight” rating and set a $10.00 price objective on the stock in a report on Thursday, November 9th. Raymond James raised CareDx from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Tuesday, August 15th. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CareDx has an average rating of “Hold” and an average price target of $13.80.

CareDx Price Performance

The stock has a market capitalization of $526.91 million, a price-to-earnings ratio of -5.80 and a beta of 1.05. The firm has a fifty day moving average of $6.84 and a 200 day moving average of $8.23.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, November 8th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). CareDx had a negative return on equity of 21.94% and a negative net margin of 30.46%. The company had revenue of $67.19 million for the quarter, compared to analyst estimates of $53.14 million. During the same period last year, the business earned ($0.32) earnings per share. The firm’s revenue was down 15.3% on a year-over-year basis. Research analysts predict that CareDx, Inc will post -2.18 EPS for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, insider Reginald Seeto sold 2,819 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $9.49, for a total value of $26,752.31. Following the sale, the insider now directly owns 481,982 shares of the company’s stock, valued at $4,574,009.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of CareDx

Several institutional investors have recently bought and sold shares of CDNA. Jacobs Levy Equity Management Inc. lifted its position in shares of CareDx by 62.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,114 shares of the company’s stock valued at $7,869,000 after acquiring an additional 432,090 shares in the last quarter. Tudor Investment Corp Et Al purchased a new position in shares of CareDx in the third quarter valued at approximately $81,000. Public Employees Retirement System of Ohio lifted its position in shares of CareDx by 67.5% in the third quarter. Public Employees Retirement System of Ohio now owns 98,848 shares of the company’s stock valued at $692,000 after acquiring an additional 39,843 shares in the last quarter. Bullseye Asset Management LLC lifted its position in shares of CareDx by 13.3% in the third quarter. Bullseye Asset Management LLC now owns 169,820 shares of the company’s stock valued at $1,188,000 after acquiring an additional 20,000 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of CareDx by 45.8% in the third quarter. GSA Capital Partners LLP now owns 66,014 shares of the company’s stock valued at $462,000 after acquiring an additional 20,732 shares in the last quarter.

About CareDx

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers. 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.