CareDx, Inc (NASDAQ:CDNA) Short Interest Up 10.6% in September

CareDx, Inc (NASDAQ:CDNAGet Free Report) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,660,000 shares, a growth of 10.6% from the August 31st total of 3,310,000 shares. Approximately 7.4% of the company’s stock are short sold. Based on an average daily trading volume, of 876,300 shares, the short-interest ratio is presently 4.2 days.

Insiders Place Their Bets

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Maag sold 35,552 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock worth $3,025,415 over the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently bought and sold shares of CDNA. GAMMA Investing LLC lifted its position in shares of CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares in the last quarter. Plato Investment Management Ltd bought a new stake in CareDx during the 2nd quarter valued at approximately $62,000. Meeder Asset Management Inc. purchased a new position in CareDx in the 2nd quarter worth approximately $142,000. Allspring Global Investments Holdings LLC boosted its stake in CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after purchasing an additional 18,481 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in CareDx during the 1st quarter valued at approximately $238,000.

CareDx Stock Performance

Shares of NASDAQ CDNA traded down $0.81 during trading on Tuesday, hitting $30.42. The company had a trading volume of 429,910 shares, compared to its average volume of 893,871. CareDx has a 12 month low of $4.80 and a 12 month high of $34.84. The firm has a market capitalization of $1.58 billion, a P/E ratio of -8.76 and a beta of 1.77. The stock has a 50 day simple moving average of $27.56 and a 200 day simple moving average of $17.89.

CareDx (NASDAQ:CDNAGet Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.37. The business had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. As a group, analysts predict that CareDx will post -0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Craig Hallum boosted their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, August 19th. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.80.

Get Our Latest Stock Report on CDNA

About CareDx

(Get Free Report)

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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