CareDx (NASDAQ:CDNA) Shares Gap Down to $31.80

CareDx, Inc (NASDAQ:CDNA) shares gapped down before the market opened on Wednesday . The stock had previously closed at $31.80, but opened at $30.26. CareDx shares last traded at $30.97, with a volume of 156,375 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CDNA. Stephens lifted their price objective on CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. The Goldman Sachs Group lifted their price target on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, August 19th. Craig Hallum raised their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James cut shares of CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, CareDx presently has a consensus rating of “Hold” and an average price target of $28.80.

CareDx Trading Up 2.2 %

The stock’s 50 day moving average is $21.69 and its two-hundred day moving average is $14.83. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -9.04 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.37. The company had revenue of $92.27 million for the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, research analysts anticipate that CareDx, Inc will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the sale, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Alexander L. Johnson sold 21,557 shares of the 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 completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx 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 completion of the sale, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock valued at $3,025,415 in the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ClariVest Asset Management LLC increased its position in shares of CareDx by 2.9% during the 2nd 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 last quarter. BNP Paribas Financial Markets increased its holdings in CareDx by 2.1% during the fourth quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock worth $1,083,000 after buying an additional 1,876 shares during the last quarter. GAMMA Investing LLC increased its holdings in CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in CareDx by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after acquiring an additional 2,344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted 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 last quarter.

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.