CareDx (NASDAQ:CDNA) Trading Up 6.3%

CareDx, Inc (NASDAQ:CDNA) shares shot up 6.3% during trading on Monday . The stock traded as high as $31.69 and last traded at $31.56. 213,969 shares traded hands during trading, a decline of 76% from the average session volume of 891,826 shares. The stock had previously closed at $29.70.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 19th. The Goldman Sachs Group increased their price objective on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Craig Hallum boosted their target price on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target for the company. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. One equities 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 company’s stock. According to data from MarketBeat, CareDx currently has an average rating of “Moderate Buy” and a consensus price target of $28.80.

CareDx Stock Up 6.0 %

The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -9.23 and a beta of 1.77. The stock has a 50 day moving average of $27.31 and a 200 day moving average of $17.69.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of CareDx by 1,021.8% during the 2nd 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 period. Plato Investment Management Ltd bought a new stake in shares of CareDx during the 2nd quarter worth approximately $62,000. Meeder Asset Management Inc. bought a new position in shares of CareDx in the 2nd quarter valued at $142,000. Allspring Global Investments Holdings LLC raised its position in CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after purchasing an additional 18,481 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of CareDx in the first quarter worth $238,000.

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.