CareDx, Inc (NASDAQ:CDNA) Sees Large Drop in Short Interest

CareDx, Inc (NASDAQ:CDNA - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 4,690,000 shares, a decline of 9.5% from the March 31st total of 5,180,000 shares. Approximately 9.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 878,300 shares, the days-to-cover ratio is presently 5.3 days.

Analyst Upgrades and Downgrades

Separately, Stephens reissued an "overweight" rating and issued a $15.00 price target on shares of CareDx in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, CareDx currently has an average rating of "Hold" and a consensus target price of $13.50.

CareDx Trading Up 8.5 %

Shares of CareDx stock traded up $0.64 during trading on Monday, hitting $8.20. The stock had a trading volume of 728,880 shares, compared to its average volume of 886,184. CareDx has a 12 month low of $4.80 and a 12 month high of $12.93. The firm has a market cap of $424.60 million, a price-to-earnings ratio of -2.32 and a beta of 1.42. The business's 50-day moving average is $9.61 and its 200 day moving average is $9.27.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The business had revenue of $65.57 million for the quarter, compared to analysts' expectations of $63.66 million. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. CareDx's quarterly revenue was down 20.4% compared to the same quarter last year. As a group, equities analysts expect that CareDx will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company's stock worth $198,000 after buying an additional 18,481 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of CareDx by 9.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company's stock worth $2,743,000 after acquiring an additional 21,892 shares during the last quarter. Bullseye Asset Management LLC grew its position in CareDx by 2.9% in the fourth quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company's stock worth $2,098,000 after acquiring an additional 5,000 shares in the last quarter. Bellevue Group AG grew its position in CareDx by 0.4% in the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company's stock worth $47,458,000 after acquiring an additional 13,994 shares in the last quarter. Finally, Quest Partners LLC bought a new position in CareDx in the fourth quarter valued at $117,000.

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.