CareDx (NASDAQ:CDNA) Shares Gap Down to $18.57

Shares of CareDx, Inc (NASDAQ:CDNA) gapped down before the market opened on Wednesday . The stock had previously closed at $18.57, but opened at $17.70. CareDx shares last traded at $18.48, with a volume of 69,375 shares changing hands.

Analyst Upgrades and Downgrades

CDNA has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of CareDx from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James lowered shares of CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. Stephens raised their price target on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Finally, HC Wainwright restated a “neutral” rating on shares of CareDx in a research report on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.00.

CareDx Stock Down 1.9 %

The company’s 50-day moving average price is $14.74 and its 200-day moving average price is $11.48. The firm has a market cap of $948.38 million, a price-to-earnings ratio of -5.25 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.18. The business had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. Analysts predict that CareDx, Inc will post -1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareDx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC boosted its position in CareDx by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock worth $86,337,000 after acquiring an additional 515,399 shares during the last quarter. Vanguard Group Inc. boosted 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. Bellevue Group AG boosted its position in CareDx by 0.4% during the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after acquiring an additional 13,994 shares during the last quarter. Gagnon Securities LLC boosted its position in CareDx by 7.1% during the first quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after acquiring an additional 149,485 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in CareDx during the first quarter worth about $13,025,000.

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.