CareDx (NASDAQ:CDNA) Stock Price Down 3.5% – Should You Sell?

CareDx, Inc (NASDAQ:CDNA) shares fell 3.5% during mid-day trading on Wednesday . The company traded as low as $25.38 and last traded at $25.44. 309,872 shares were traded during mid-day trading, a decline of 66% from the average session volume of 900,401 shares. The stock had previously closed at $26.35.

Analyst Ratings Changes

Several research firms have commented on CDNA. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, August 19th. Wells Fargo & Company began coverage on shares of CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective on the stock. HC Wainwright restated a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

CareDx Stock Down 2.0 %

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -7.16 and a beta of 1.77. The company’s 50-day simple moving average is $29.68 and its 200-day simple moving average is $19.55.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. The business had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. 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, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the transaction, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,340 shares of company stock worth $3,025,415. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 180,334 shares during the period. Gagnon Securities LLC increased its stake in shares of CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after purchasing an additional 149,485 shares during the last quarter. Millennium Management LLC raised its holdings in shares of CareDx by 1,085.4% during 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 in the last quarter. Renaissance Technologies LLC lifted its stake in shares of CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after purchasing an additional 88,100 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in CareDx in the first quarter worth $13,025,000.

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.