CareDx (NASDAQ:CDNA) Trading Down 7.9% – What’s Next?

CareDx, Inc. (NASDAQ:CDNA)’s stock price dropped 7.9% on Thursday . The stock traded as low as $17.37 and last traded at $17.4150. Approximately 659,088 shares traded hands during trading, a decline of 28% from the average daily volume of 918,300 shares. The stock had previously closed at $18.90.

Analyst Ratings Changes

Several equities research analysts recently commented on CDNA shares. Wall Street Zen upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Wells Fargo & Company raised their price objective on CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, December 15th. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. BTIG Research upped their target price on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.67.

CareDx Stock Down 8.7%

The company has a market cap of $887.42 million, a price-to-earnings ratio of 14.54 and a beta of 2.49. The business has a fifty day simple moving average of $17.90 and a 200 day simple moving average of $15.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. The business had revenue of $100.06 million for the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) EPS. Equities analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Trading of CareDx

Institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. acquired a new stake in CareDx in the third quarter valued at $31,857,000. Braidwell LP acquired a new stake in CareDx in the 3rd quarter valued at about $31,738,000. Next Century Growth Investors LLC increased its holdings in CareDx by 309.4% during the 2nd quarter. Next Century Growth Investors LLC now owns 1,125,454 shares of the company’s stock valued at $21,991,000 after acquiring an additional 850,580 shares in the last quarter. Bamco Inc. NY increased its holdings in CareDx by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after acquiring an additional 719,523 shares in the last quarter. Finally, Amova Asset Management Americas Inc. raised its position in CareDx by 40.8% during the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after acquiring an additional 504,473 shares during the last quarter.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.