CareDx (NASDAQ:CDNA) Sees Strong Trading Volume – What’s Next?

CareDx, Inc (NASDAQ:CDNA) shares saw unusually-strong trading volume on Monday . Approximately 1,810,291 shares changed hands during trading, an increase of 130% from the previous session’s volume of 785,897 shares.The stock last traded at $24.32 and had previously closed at $22.41.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised 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 research report on Wednesday, January 15th. The Goldman Sachs Group lifted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. HC Wainwright reiterated a “neutral” rating and issued a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. Finally, BTIG Research cut their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.33.

CareDx Trading Up 5.0 %

The business’s 50-day simple moving average is $22.70 and its two-hundred day simple moving average is $25.29. The company has a market capitalization of $1.28 billion, a PE ratio of -8.87 and a beta of 1.87.

Insider Buying and Selling

In related news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of CareDx in the 3rd quarter valued at about $27,000. Harvest Fund Management Co. Ltd acquired a new stake in CareDx during the third quarter valued at approximately $52,000. KBC Group NV bought a new position in CareDx during the 3rd quarter worth approximately $99,000. nVerses Capital LLC lifted its holdings in CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after buying an additional 2,100 shares during the last quarter. Finally, Plato Investment Management Ltd grew its position in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock worth $116,000 after acquiring an additional 1,370 shares in the last quarter.

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.