CareDx (NASDAQ:CDNA) Trading Down 3.6% - Here's What Happened

CareDx, Inc. (NASDAQ:CDNA - Get Free Report)'s stock price dropped 3.6% on Wednesday . The company traded as low as $18.51 and last traded at $18.82. Approximately 57,897 shares traded hands during trading, a decline of 94% from the average daily volume of 913,499 shares. The stock had previously closed at $19.52.

Wall Street Analyst Weigh In

CDNA has been the subject of a number of research analyst reports. Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Stephens restated an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. Finally, HC Wainwright restated a "neutral" rating and issued a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

CareDx Stock Up 0.1%

The company's fifty day moving average is $17.57 and its two-hundred day moving average is $20.03. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 16.56 and a beta of 2.18.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. CareDx had a net margin of 19.79% and a return on equity of 21.16%. The company's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. Sell-side analysts predict that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christine Cournoyer sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total transaction of $235,971.00. Following the completion of the sale, the director now owns 37,045 shares in the company, valued at approximately $523,445.85. The trade was a 31.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Maag sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $19.24, for a total transaction of $192,400.00. Following the sale, the director now owns 318,846 shares of the company's stock, valued at $6,134,597.04. This represents a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,773 shares of company stock valued at $2,036,290 in the last ninety days. Insiders own 4.40% of the company's stock.

Institutional Trading of CareDx

Institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC increased its position in CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after buying an additional 1,126 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock valued at $79,000 after acquiring an additional 4,444 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after acquiring an additional 3,322 shares during the period. State of Wyoming purchased a new stake in CareDx in the 4th quarter valued at $91,000. Finally, Morse Asset Management Inc acquired a new stake in CareDx during the 1st quarter worth $103,000.

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.