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

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

Analyst Upgrades and Downgrades

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

CareDx Stock Down 4.7 %

The company has a market cap of $1.20 billion, a PE ratio of -8.27 and a beta of 1.86. The company has a 50-day moving average of $22.92 and a 200-day moving average of $24.79.

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. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. As a group, equities analysts predict that CareDx, Inc will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director now directly owns 330,024 shares in the company, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Trading of CareDx

Several hedge funds have recently made changes to their positions in CDNA. Quarry LP purchased a new position in CareDx during the third quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx in the 3rd quarter worth about $52,000. KBC Group NV purchased a new position in shares of CareDx in the 3rd quarter worth about $99,000. nVerses Capital LLC boosted its holdings in shares of CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 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.