CareDx (NASDAQ:CDNA) Stock Crosses Above 50-Day Moving Average After Insider Selling

CareDx, Inc (NASDAQ:CDNA) shares passed above its 50-day moving average during trading on Monday following insider buying activity. The stock has a 50-day moving average of $17.54 and traded as high as $19.23. CareDx shares last traded at $19.07, with a volume of 777,225 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on CDNA. Stephens reissued an “overweight” rating and set a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group reduced their target price on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen cut shares of CareDx from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.33.

CareDx Price Performance

The business’s 50-day moving average price is $17.54 and its two-hundred day moving average price is $20.17. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -7.06 and a beta of 2.18.

CareDx (NASDAQ:CDNA) 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. The business had revenue of $84.69 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. Equities analysts predict that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CDNA. Sterling Capital Management LLC grew its holdings in 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 acquiring an additional 1,126 shares during the period. PNC Financial Services Group Inc. grew its holdings in CareDx by 20,200.0% during the first 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 during the period. Tower Research Capital LLC TRC grew its holdings in CareDx by 553.7% during the fourth 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 period. State of Wyoming acquired a new position in CareDx during the fourth quarter worth about $91,000. Finally, Morse Asset Management Inc purchased a new position in CareDx in the 1st quarter worth about $103,000.

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.