CareDx (NASDAQ:CDNA) Reaches New 1-Year Low - What's Next?

Shares of CareDx, Inc. (NASDAQ:CDNA - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $11.93 and last traded at $12.85, with a volume of 3500025 shares changing hands. The stock had previously closed at $19.20.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CDNA shares. Craig Hallum cut their price objective on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a report on Friday. Stephens restated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.33.

CareDx Price Performance

The firm has a 50-day moving average of $18.23 and a 200-day moving average of $19.51. The stock has a market cap of $663.15 million, a PE ratio of 10.36 and a beta of 2.19.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The firm had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm's revenue was up 17.6% on a year-over-year basis. Equities analysts forecast that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director directly owned 316,743 shares of the company's stock, valued at $5,457,481.89. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine Cournoyer sold 29,136 shares of CareDx stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.96, for a total value of $465,010.56. Following the sale, the director directly owned 37,045 shares of the company's stock, valued at approximately $591,238.20. This trade represents a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,078 shares of company stock worth $2,419,915. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in CareDx by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after buying an additional 640 shares in the last quarter. Sei Investments Co. grew its stake in CareDx by 1.7% during the 1st quarter. Sei Investments Co. now owns 47,921 shares of the company's stock valued at $851,000 after purchasing an additional 816 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CareDx by 3.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock worth $425,000 after buying an additional 900 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of CareDx by 292.9% in the second quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock worth $26,000 after buying an additional 996 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of CareDx by 6.9% in the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock worth $365,000 after buying an additional 1,109 shares during the last quarter.

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.