CareDx (NASDAQ:CDNA) Shares Down 7.9% - What's Next?

Key Points

• Shares down 7.9% — CareDx fell to $16.51 on Thursday with mid-day volume of about 512,981 shares, roughly 24% below its average daily volume.
• Mixed quarterly results: the company missed EPS expectations ($0.12 reported vs. $0.24 expected) but revenue of $108.39M beat estimates and rose 25.2% year‑over‑year.
• Analyst stance: Hold — the consensus rating is "Hold" (3 Buy, 5 Hold, 1 Sell) with an average price target of $27.33 amid several recent downgrades and target adjustments.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report)'s stock price was down 7.9% on Thursday . The company traded as low as $16.49 and last traded at $16.51. Approximately 512,981 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 676,247 shares. The stock had previously closed at $17.92.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CDNA shares. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Weiss Ratings lowered shares of CareDx from a "hold (c-)" rating to a "sell (d)" rating in a research report on Friday, February 27th. Craig Hallum lowered shares of CareDx from a "buy" rating to a "hold" rating and set a $26.00 price target for the company. in a research report on Tuesday, January 6th. BTIG Research upped their price target on shares of CareDx from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price target on shares of CareDx from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 25th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.33.

CareDx Price Performance

The firm's 50-day moving average is $18.50 and its 200 day moving average is $17.73. The stock has a market cap of $831.30 million, a price-to-earnings ratio of -40.53 and a beta of 2.54.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The company had revenue of $108.39 million for the quarter, compared to analyst estimates of $102.76 million. During the same period last year, the company posted $0.18 EPS. The business's revenue for the quarter was up 25.2% on a year-over-year basis. On average, sell-side analysts forecast that CareDx, Inc. will post -0.9 EPS for the current year.

Insider Transactions at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the business's stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares in the company, valued at $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 29,636 shares of company stock worth $625,949 in the last ninety days. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently bought and sold shares of the business. Paragon Associates & Paragon Associates II Joint Venture boosted its stake in shares of CareDx by 93.7% in the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company's stock valued at $6,180,000 after purchasing an additional 205,597 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of CareDx by 25.4% in the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company's stock valued at $6,909,000 after purchasing an additional 96,123 shares during the period. ARK Investment Management LLC boosted its stake in shares of CareDx by 3.4% in the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company's stock valued at $31,561,000 after purchasing an additional 70,468 shares during the period. Zweig DiMenna Associates LLC boosted its stake in shares of CareDx by 153.8% in the third quarter. Zweig DiMenna Associates LLC now owns 575,000 shares of the company's stock valued at $8,360,000 after purchasing an additional 348,400 shares during the period. Finally, Portolan Capital Management LLC boosted its stake in shares of CareDx by 48.2% in the third quarter. Portolan Capital Management LLC now owns 933,532 shares of the company's stock valued at $13,574,000 after purchasing an additional 303,555 shares during the period.

CareDx Company Profile

CareDx, Inc NASDAQ: CDNA is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company's core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

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