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CareDx (NASDAQ:CDNA) Stock Price Up 9.2% - Here's Why

CareDx logo with Medical background

CareDx, Inc. (NASDAQ:CDNA - Get Free Report)'s stock price rose 9.2% during mid-day trading on Monday . The company traded as high as $13.15 and last traded at $13.02. Approximately 1,748,119 shares traded hands during trading, an increase of 72% from the average daily volume of 1,016,841 shares. The stock had previously closed at $11.92.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CDNA shares. Wall Street Zen cut CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Craig Hallum cut 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. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 price target on shares of CareDx in a research note on Monday, May 5th. The Goldman Sachs Group cut their price target on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Stephens reaffirmed an "overweight" rating and set a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, CareDx presently has an average rating of "Moderate Buy" and an average price target of $29.33.

View Our Latest Analysis on CDNA

CareDx Stock Up 7.1%

The firm has a market cap of $709.92 million, a price-to-earnings ratio of 11.09 and a beta of 2.19. The company has a 50-day moving average price of $18.23 and a 200 day moving average price of $19.51.

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

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 13,281 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the completion of the sale, the director directly owned 316,743 shares of the company's stock, valued at approximately $5,457,481.89. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William A. Hagstrom sold 30,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the transaction, the director owned 53,979 shares in the company, valued at approximately $941,933.55. The trade was a 35.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,078 shares of company stock valued at $2,419,915 over the last ninety days. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On CareDx

A number of institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC boosted 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 buying an additional 996 shares during the period. Voya Investment Management LLC lifted its position in shares of CareDx by 12.8% in the 1st quarter. Voya Investment Management LLC now owns 24,400 shares of the company's stock worth $433,000 after purchasing an additional 2,761 shares during the period. Strs Ohio purchased a new stake in shares of CareDx in the 1st quarter worth about $462,000. Acadian Asset Management LLC lifted its position in shares of CareDx by 6.1% in the 1st quarter. Acadian Asset Management LLC now owns 359,303 shares of the company's stock worth $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 lifted its position in shares of CareDx by 11.3% in 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 worth $2,378,000 after purchasing an additional 13,619 shares during the period.

CareDx Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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