CareDx (NASDAQ:CDNA) Stock Price Down 5.4% – Here’s What Happened

Shares of CareDx, Inc (NASDAQ:CDNA) fell 5.4% during trading on Friday . The company traded as low as $22.25 and last traded at $22.17. 322,787 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 842,079 shares. The stock had previously closed at $23.43.

Wall Street Analyst Weigh In

CDNA has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BTIG Research decreased their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

CareDx Trading Down 4.7 %

The business has a 50 day moving average of $22.92 and a two-hundred day moving average of $24.79. The firm has a market cap of $1.20 billion, a P/E ratio of -8.27 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. On average, sell-side analysts predict that CareDx, Inc will post -0.9 EPS for the current year.

Insider Activity at CareDx

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This trade 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 available through the SEC website. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CareDx

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in shares of CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after acquiring an additional 183,823 shares during the last quarter. Virtue Capital Management LLC bought a new stake in CareDx in the third quarter worth approximately $755,000. Driehaus Capital Management LLC bought a new stake in CareDx in the second quarter worth approximately $2,852,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in CareDx in the third quarter worth approximately $1,671,000. Finally, Geode Capital Management LLC increased its holdings in CareDx by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock worth $38,343,000 after purchasing an additional 32,141 shares in the last quarter.

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.