CareDx (NASDAQ:CDNA) Shares Down 5.4% – Time to Sell?

CareDx, Inc (NASDAQ:CDNA) shares traded down 5.4% on Friday . The stock traded as low as $22.25 and last traded at $22.17. 322,787 shares were traded during mid-day trading, a decline of 62% from the average session volume of 842,079 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CDNA. BTIG Research lowered their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.33.

CareDx Stock Performance

The firm has a 50 day moving average price of $22.86 and a two-hundred day moving average price of $24.68. The company has a market capitalization of $1.20 billion, a P/E ratio of -8.27 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, equities analysts expect that CareDx, Inc will post -0.9 earnings per share for the current year.

Insider Activity at CareDx

In related news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CareDx

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new position in shares of CareDx in the third quarter valued at about $27,000. Royce & Associates LP increased its position in CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after acquiring an additional 1,000 shares in the last quarter. Quest Partners LLC raised its stake in shares of CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after acquiring an additional 1,540 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx during the third quarter worth approximately $52,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of CareDx by 6.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock valued at $623,000 after purchasing an additional 1,816 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.