CareDx (NASDAQ:CDNA) Trading Down 5.5% - Time to Sell?

Key Points

• CareDx's stock price decreased by 5.5% to $13.09, with a trading volume decline of 6% from the average.
• Analysts have downgraded CareDx, with four analysts rating the stock as "Buy" and three as "Hold," while the average price target is now $27.67.
• CareDx reported a loss of $0.16 EPS for the last quarter, missing estimates, and showed a 6.1% decline in revenue compared to the previous year.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) shares were down 5.5% during mid-day trading on Wednesday . The stock traded as low as $13.17 and last traded at $13.09. Approximately 1,118,864 shares traded hands during trading, a decline of 6% from the average daily volume of 1,191,968 shares. The stock had previously closed at $13.85.

Analyst Ratings Changes

Several analysts have recently issued reports on CDNA shares. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Craig Hallum decreased their price target on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Wells Fargo & Company decreased their price target on CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Finally, William Blair started coverage on CareDx in a research note on Tuesday, August 26th. They set a "market perform" rating for the company. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $27.67.

CareDx Trading Down 3.5%

The firm has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $16.92. The stock has a market cap of $710.09 million, a price-to-earnings ratio of 13.08 and a beta of 2.28.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). The firm had revenue of $90.51 million during the quarter, compared to analyst estimates of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The company's revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. On average, equities analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the transaction, the director owned 308,846 shares of the company's stock, valued at $5,738,358.68. This represents a 3.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hannah Valantine sold 10,570 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total value of $202,521.20. Following the completion of the transaction, the director directly owned 38,994 shares of the company's stock, valued at approximately $747,125.04. The trade was a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,961 shares of company stock valued at $966,602 in the last quarter. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On CareDx

Hedge funds have recently modified their holdings of the stock. MCF Advisors LLC raised its holdings in shares of CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock worth $26,000 after buying an additional 996 shares in the last quarter. Allworth Financial LP acquired a new position in shares of CareDx in the 2nd quarter worth approximately $40,000. State of Wyoming acquired a new position in shares of CareDx in the 4th quarter worth approximately $91,000. PNC Financial Services Group Inc. raised 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 worth $79,000 after buying an additional 4,444 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of CareDx in the 1st quarter worth approximately $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.