CareDx (NASDAQ:CDNA) Trading Down 5.4% – Should You Sell?

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

Analysts Set New Price Targets

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

CareDx Stock Down 4.7 %

The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -8.27 and a beta of 1.86. The stock’s 50 day moving average is $22.86 and its 200 day moving average is $24.68.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. During the same period last year, the company posted ($0.43) EPS. The company’s revenue was up 23.4% compared to the same quarter last year. Analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 5,000 shares of the 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 in the company, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in CareDx during the third quarter valued at approximately $27,000. Royce & Associates LP lifted its stake in shares of 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 purchasing an additional 1,000 shares during the last quarter. Quest Partners LLC boosted its holdings in 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 purchasing an additional 1,540 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in CareDx in the third quarter worth $52,000. Finally, Exchange Traded Concepts LLC increased its position in CareDx by 6.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock worth $623,000 after buying 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.