CareDx (NASDAQ:CDNA) Shares Down 3.6% - Time to Sell?

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) shares were down 3.6% during mid-day trading on Wednesday . The company traded as low as $18.51 and last traded at $18.82. Approximately 57,897 shares changed hands during mid-day 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

A number of research analysts have commented on the stock. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Stephens reaffirmed an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. HC Wainwright reissued a "neutral" rating and set a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Price Performance

The firm's fifty day moving average is $17.55 and its two-hundred day moving average is $20.17. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 16.63 and a beta of 2.18.

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

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the transaction, the director now owns 37,045 shares of the company's stock, valued at approximately $523,445.85. This represents a 31.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $228,831.63. Following the completion of the transaction, the director now owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,773 shares of company stock worth $1,843,890. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. Sterling Capital Management LLC increased its position in shares of CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after acquiring an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after purchasing an additional 3,322 shares during the period. State of Wyoming purchased a new position in CareDx during the 4th quarter worth approximately $91,000. PNC Financial Services Group Inc. grew its position in CareDx by 20,200.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after purchasing an additional 4,444 shares in the last quarter. Finally, Plato Investment Management Ltd raised its stake in CareDx by 34.1% during the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after purchasing an additional 1,370 shares during the period.

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.

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