CareDx (NASDAQ:CDNA) Shares Down 11.8% – Here’s Why

CareDx, Inc (NASDAQ:CDNA) was down 11.8% on Wednesday . The company traded as low as $27.90 and last traded at $28.35. Approximately 707,464 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 894,643 shares. The stock had previously closed at $32.16.

Analyst Ratings Changes

CDNA has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, August 19th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group lifted their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, CareDx presently has a consensus rating of “Hold” and an average price target of $28.80.

CareDx Trading Down 12.4 %

The business’s 50-day simple moving average is $29.06 and its 200-day simple moving average is $18.79. The company has a market cap of $1.47 billion, a PE ratio of -8.29 and a beta of 1.77.

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

Insider Buying and Selling

In other CareDx 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 transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s 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 sale, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction 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 owns 284,983 shares in the company, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their position. 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 Trading of CareDx

Institutional investors have recently bought and sold shares of the stock. Bullseye Asset Management LLC boosted 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 worth $2,098,000 after purchasing an additional 5,000 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of CareDx by 9.2% in the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock worth $2,743,000 after acquiring an additional 21,892 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of CareDx by 10,267.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after purchasing an additional 18,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after purchasing an additional 106,660 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of CareDx in the first quarter valued at approximately $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.