CareDx, Inc (NASDAQ:CDNA) Short Interest Down 6.6% in December

CareDx, Inc (NASDAQ:CDNA) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 3,120,000 shares, a drop of 6.6% from the November 30th total of 3,340,000 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 842,500 shares, the days-to-cover ratio is presently 3.7 days.

CareDx Trading Up 0.4 %

Shares of NASDAQ CDNA opened at $21.18 on Tuesday. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.84 and a beta of 1.84. The firm has a 50 day moving average of $22.97 and a 200 day moving average of $23.78.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. During the same quarter in the previous year, the firm posted ($0.43) EPS. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. Sell-side analysts predict that CareDx will post -0.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDNA. BTIG Research decreased their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.60.

Insider Buying and Selling at CareDx

In other 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 completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in CareDx in the 3rd quarter worth $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx in the third quarter valued at about $52,000. Plato Investment Management Ltd bought a new position in shares of CareDx in the second quarter worth about $62,000. KBC Group NV purchased a new stake in shares of CareDx during the third quarter worth about $99,000. Finally, nVerses Capital LLC raised its stake in CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after purchasing an additional 2,100 shares during the period.

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.