CareDx (NASDAQ:CDNA) Trading 5.8% Higher – Here’s What Happened

CareDx, Inc (NASDAQ:CDNA)’s stock price traded up 5.8% on Friday . The company traded as high as $17.03 and last traded at $17.03. 142,870 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 876,896 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $40.00 price target on shares of CareDx in a report on Monday, May 5th. StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group cut their price target on shares of CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.33.

CareDx Stock Up 8.9%

The company’s 50 day moving average price is $17.62 and its 200 day moving average price is $20.92. The firm has a market capitalization of $976.64 million, a price-to-earnings ratio of -6.50 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $84.56 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, analysts expect that CareDx, Inc will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christine Cournoyer sold 16,700 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total transaction of $235,971.00. Following the completion of the transaction, the director now owns 37,045 shares of the company’s stock, valued at $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Maag sold 13,281 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the transaction, the director now directly owns 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 disclosure for this sale can be found here. Insiders sold a total of 59,382 shares of company stock valued at $934,509 over the last 90 days. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in CareDx by 123.8% in the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after buying an additional 54,482 shares in the last quarter. Franklin Resources Inc. increased its holdings in CareDx by 34.4% in the third quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock valued at $1,862,000 after buying an additional 15,238 shares in the last quarter. ARS Investment Partners LLC increased its holdings in CareDx by 6.3% in the fourth quarter. ARS Investment Partners LLC now owns 101,968 shares of the company’s stock valued at $2,183,000 after buying an additional 6,083 shares in the last quarter. SG Americas Securities LLC increased its holdings in CareDx by 31.0% in the fourth quarter. SG Americas Securities LLC now owns 24,087 shares of the company’s stock valued at $516,000 after buying an additional 5,706 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in CareDx by 6.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock valued at $623,000 after buying an additional 1,816 shares in 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.