CareDx (NASDAQ:CDNA) Stock Price Down 4.7% - Here's What Happened

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) shares traded down 4.7% on Tuesday . The company traded as low as $19.30 and last traded at $19.07. 129,775 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 924,289 shares. The stock had previously closed at $20.02.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stephens reiterated an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Craig Hallum dropped their price target on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.33.

CareDx Stock Up 0.8%

The company has a market cap of $663.15 million, a PE ratio of 10.36 and a beta of 2.19. The stock's 50 day moving average is $18.23 and its 200-day moving average is $19.53.

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

Insider Activity

In other news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the transaction, the director directly owned 308,846 shares in the company, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the transaction, the director owned 37,045 shares in the company, valued at approximately $591,238.20. The trade was a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,078 shares of company stock worth $2,419,915. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC increased its position in CareDx by 292.9% during the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the period. Voya Investment Management LLC increased its position in CareDx by 12.8% during the 1st quarter. Voya Investment Management LLC now owns 24,400 shares of the company's stock valued at $433,000 after purchasing an additional 2,761 shares during the period. Strs Ohio purchased a new position in CareDx during the 1st quarter valued at about $462,000. Acadian Asset Management LLC increased its position in CareDx by 6.1% during the 1st quarter. Acadian Asset Management LLC now owns 359,303 shares of the company's stock valued at $6,373,000 after purchasing an additional 20,806 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CareDx by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company's stock valued at $2,378,000 after purchasing an additional 13,619 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.