CareDx (NASDAQ:CDNA) Trading 5.1% Higher – What’s Next?

CareDx, Inc (NASDAQ:CDNA) shares traded up 5.1% during trading on Monday . The stock traded as high as $32.51 and last traded at $32.49. 478,778 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 892,842 shares. The stock had previously closed at $30.91.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Craig Hallum raised their target price 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. StockNews.com downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. The Goldman Sachs Group raised their target price on shares of CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, 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 research note on Monday, August 19th. One research 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. Based on data from MarketBeat.com, CareDx has an average rating of “Hold” and an average price target of $28.80.

CareDx Price Performance

The company has a market cap of $1.47 billion, a P/E ratio of -8.24 and a beta of 1.77. The company’s 50-day moving average is $29.23 and its two-hundred day moving average is $18.86.

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

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the transaction, the director now owns 330,024 shares in the company, valued at $10,903,992.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,340 shares of company stock valued at $3,025,415. Company insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

Several hedge funds have recently bought and sold shares of CDNA. Bullseye Asset Management LLC increased its holdings in shares of CareDx by 2.9% in the 4th quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock worth $2,098,000 after buying an additional 5,000 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in CareDx by 9.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock valued at $2,743,000 after purchasing an additional 21,892 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CareDx by 10,267.2% during the 1st 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. Mirae Asset Global Investments Co. Ltd. grew its holdings in CareDx by 87.8% during the 1st 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 bought a new position in CareDx during the 1st quarter valued at about $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.