CareDx (NASDAQ:CDNA) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of CareDx, Inc. (NASDAQ:CDNA) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $18.76 and traded as high as $22.30. CareDx shares last traded at $21.55, with a volume of 507,105 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. BTIG Research raised their target price on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company raised their target price on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.00.

CareDx Stock Down 1.2%

The company has a market capitalization of $1.11 billion, a P/E ratio of -134.69 and a beta of 2.49. The stock has a fifty day simple moving average of $18.76 and a 200-day simple moving average of $18.54.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. The company had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business’s revenue was up 39.3% on a year-over-year basis. During the same period last year, the business earned $0.09 earnings per share. Analysts predict that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other CareDx news, CEO John Walter Hanna, Jr. sold 10,282 shares of CareDx stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $21.12, for a total transaction of $217,155.84. Following the completion of the transaction, the chief executive officer directly owned 676,475 shares of the company’s stock, valued at approximately $14,287,152. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNA. Deerfield Management Company L.P. bought a new position in shares of CareDx during the third quarter valued at $31,857,000. Braidwell LP bought a new position in shares of CareDx during the third quarter valued at $31,738,000. Boston Partners lifted its holdings in shares of CareDx by 2,776.5% during the fourth quarter. Boston Partners now owns 901,929 shares of the company’s stock valued at $16,994,000 after acquiring an additional 870,574 shares during the period. Bamco Inc. NY lifted its holdings in shares of CareDx by 29.5% during the third 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 during the period. Finally, Amova Asset Management Americas Inc. increased its stake in shares of CareDx by 40.8% in the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock valued at $25,283,000 after buying an additional 504,473 shares in the last quarter.

About CareDx

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.