CareDx, Inc (NASDAQ:CDNA) Sees Significant Increase in Short Interest

CareDx, Inc (NASDAQ:CDNA) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,660,000 shares, a growth of 10.6% from the August 31st total of 3,310,000 shares. Currently, 7.4% of the shares of the company are sold short. Based on an average daily volume of 876,300 shares, the short-interest ratio is currently 4.2 days.

Insider Buying and Selling at CareDx

In other news, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in CareDx by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,949 shares of the company’s stock worth $5,327,000 after buying an additional 33,767 shares in the last quarter. Bellevue Group AG grew its holdings in CareDx by 0.4% during the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after acquiring an additional 13,994 shares during the period. Bullseye Asset Management LLC lifted its stake in CareDx by 2.9% in the fourth quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock valued at $2,098,000 after buying an additional 5,000 shares during the period. Los Angeles Capital Management LLC grew its position in shares of CareDx by 9.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock worth $2,743,000 after buying an additional 21,892 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after acquiring an additional 18,481 shares during the last quarter.

CareDx Price Performance

Shares of CDNA traded down $0.11 during trading hours on Friday, hitting $29.70. The stock had a trading volume of 443,000 shares, compared to its average volume of 895,405. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.68 and a beta of 1.77. The company’s fifty day moving average is $27.31 and its two-hundred day moving average is $17.69.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The company had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. Equities analysts predict that CareDx will post -0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Craig Hallum increased their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.80.

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.