CareDx (NASDAQ:CDNA) Trading Up 9.2% - Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Craig Hallum decreased their price objective on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Wall Street Zen lowered CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group decreased their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Stephens restated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. Finally, HC Wainwright restated a "neutral" rating and set a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.33.

CareDx Stock Performance

The stock has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $19.28. The company has a market capitalization of $714.93 million, a PE ratio of 11.17 and a beta of 2.19.

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

Insider Buying and Selling

In related news, Director Peter Maag sold 13,281 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director directly owned 316,743 shares of the company's stock, valued at approximately $5,457,481.89. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.96, for a total value of $465,010.56. Following the completion of the transaction, the director directly owned 37,045 shares in the company, valued at $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. Insiders sold a total of 139,078 shares of company stock valued at $2,419,915 over the last 90 days. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after buying an additional 323,554 shares during the last quarter. Invesco Ltd. grew its holdings in CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company's stock valued at $47,355,000 after buying an additional 1,153,011 shares during the last quarter. Bamco Inc. NY grew its holdings in CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after buying an additional 330,627 shares during the last quarter. Fred Alger Management LLC grew its holdings in CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock valued at $34,556,000 after buying an additional 110,471 shares during the last quarter. Finally, Gagnon Securities LLC grew its holdings in CareDx by 8.9% in the 2nd quarter. Gagnon Securities LLC now owns 1,548,912 shares of the company's stock valued at $30,266,000 after buying an additional 127,223 shares during the last quarter.

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.