By otakuyassine3@gmail.com 
Shares of CareDx, Inc (NASDAQ:CDNA – Get Free Report) were down 6.1% during trading on Tuesday . The stock traded as low as $23.29 and last traded at $23.53. Approximately 510,530 shares traded hands during trading, a decline of 35% from the average daily volume of 790,071 shares. The stock had previously closed at $25.07.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. HC Wainwright restated a “neutral” rating and set a $26.00 price target on shares of CareDx in a report on Tuesday. BTIG Research lowered their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $28.00 to $24.00 in a report on Wednesday. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.33.
Read Our Latest Analysis on CareDx
CareDx Stock Down 2.8 %
The stock has a market capitalization of $1.18 billion, a P/E ratio of -8.17 and a beta of 1.86. The business has a 50-day simple moving average of $22.94 and a two-hundred day simple moving average of $24.41.
CareDx (NASDAQ:CDNA – Get Free Report) last posted 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 net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. During the same quarter last year, the business posted ($0.43) earnings per share. The company’s revenue was up 23.4% on a year-over-year basis. On average, sell-side analysts forecast that CareDx, Inc will post -0.7 earnings per share for the current year.
Insider Transactions at CareDx
In other news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On CareDx
Several hedge funds have recently added to or reduced their stakes in CDNA. Millennium Management LLC lifted its position in CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after purchasing an additional 1,960,308 shares during the period. Fred Alger Management LLC raised its position in shares of CareDx by 517.9% during the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after acquiring an additional 963,554 shares during the last quarter. FMR LLC boosted its position in shares of CareDx by 802.4% in the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after purchasing an additional 556,230 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of CareDx during the third quarter worth $10,873,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in CareDx by 78.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after purchasing an additional 306,222 shares during 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.
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