CareDx (NASDAQ:CDNA) Shares Down 5.2%

CareDx, Inc (NASDAQ:CDNA)’s stock price was down 5.2% during trading on Wednesday . The stock traded as low as $27.84 and last traded at $27.89. Approximately 538,047 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 912,551 shares. The stock had previously closed at $29.41.

Analyst Ratings Changes

A number of brokerages have weighed in on CDNA. The Goldman Sachs Group raised their price objective on CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stephens increased their price objective on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. Finally, Raymond James downgraded shares of CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.80.

CareDx Stock Down 0.1 %

The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -7.92 and a beta of 1.78. The company’s 50-day simple moving average is $23.18 and its 200-day simple moving average is $15.55.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.37. The company had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. As a group, analysts expect that CareDx, Inc will post -0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction that occurred on 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 $9,284,746.14. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, 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 a total of 91,340 shares of company stock valued at $3,025,415 in the last three months. Insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

Several institutional investors have recently modified their holdings of CDNA. ClariVest Asset Management LLC lifted its position in CareDx by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after purchasing an additional 1,810 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of CareDx by 2.1% during the 4th quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock worth $1,083,000 after acquiring an additional 1,876 shares during the period. GAMMA Investing LLC lifted its holdings in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after acquiring an additional 2,013 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after acquiring an additional 2,344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in CareDx by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock valued at $329,000 after acquiring an additional 2,503 shares during the period.

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.