CareDx (NASDAQ:CDNA) Stock Price Down 3.8% - What's Next?

CareDx, Inc (NASDAQ:CDNA - Get Free Report)'s share price traded down 3.8% during trading on Thursday . The stock traded as low as $16.83 and last traded at $16.90. 142,681 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 894,797 shares. The stock had previously closed at $17.56.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CDNA. Stephens restated an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research note on Monday, May 5th. Wall Street Zen downgraded shares of CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 target price on shares of CareDx in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Stock Performance

The company's 50-day moving average is $17.27 and its 200-day moving average is $20.51. The firm has a market cap of $950.20 million, a price-to-earnings ratio of -6.32 and a beta of 2.27.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $84.69 million for the quarter, compared to analysts' expectations of $84.56 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. CareDx's revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that CareDx, Inc will post -0.9 EPS for the current year.

Insider Transactions at CareDx

In related news, Director William A. Hagstrom sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the sale, the director now directly owns 53,979 shares of the company's stock, valued at approximately $941,933.55. This represents a 35.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine Cournoyer sold 16,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total transaction of $235,971.00. Following the sale, the director now owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,382 shares of company stock worth $1,458,009 in the last three months. Insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On CareDx

A number of large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after buying an additional 1,126 shares during the period. Tower Research Capital LLC TRC boosted its position in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after acquiring an additional 3,322 shares during the last quarter. State of Wyoming acquired a new position in CareDx during the 4th quarter worth approximately $91,000. PNC Financial Services Group Inc. grew its stake in shares of CareDx by 20,200.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after acquiring an additional 4,444 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in shares of CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after purchasing an additional 1,370 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.