CareDx (NASDAQ:CDNA) Stock Price Down 5.5% - Here's Why

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 fell 5.5% during trading on Wednesday . The company traded as low as $13.17 and last traded at $13.09. 1,118,864 shares were traded during trading, a decline of 6% from the average session volume of 1,191,968 shares. The stock had previously closed at $13.85.

Analysts Set New Price Targets

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

CareDx Stock Performance

The stock has a fifty day moving average price of $14.78 and a 200-day moving average price of $17.20. The firm has a market cap of $679.82 million, a PE ratio of 12.51 and a beta of 2.28.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a return on equity of 18.03% and a net margin of 17.97%.The business had revenue of $90.51 million for the quarter, compared to analysts' expectations of $90.72 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. CareDx's quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction dated 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 sale, the director owned 38,994 shares of the company's stock, valued at $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William A. Hagstrom sold 19,391 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $19.90, for a total value of $385,880.90. Following the completion of the transaction, the director owned 53,979 shares of the company's stock, valued at approximately $1,074,182.10. This represents a 26.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,961 shares of company stock valued at $966,602. Company insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of CareDx by 3.4% in the first quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after purchasing an additional 640 shares during the period. Sei Investments Co. boosted its position in CareDx by 1.7% in the 1st quarter. Sei Investments Co. now owns 47,921 shares of the company's stock valued at $851,000 after buying an additional 816 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in CareDx by 3.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock valued at $425,000 after buying an additional 900 shares during the last quarter. MCF Advisors LLC boosted its position in CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after buying an additional 996 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in CareDx by 6.9% in the 4th quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock valued at $365,000 after buying an additional 1,109 shares during the last quarter.

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.

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