CareDx, Inc (NASDAQ:CDNA – Get Rating)’s share price dropped 8.9% during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $45.00 to $40.00. The Goldman Sachs Group currently has a buy rating on the stock. CareDx traded as low as $15.98 and last traded at $17.06. Approximately 15,141 shares were traded during trading, a decline of 98% from the average daily volume of 796,243 shares. The stock had previously closed at $18.73.
Other equities research analysts have also issued reports about the company. StockNews.com lowered CareDx from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. BTIG Research cut their price objective on CareDx to $37.00 in a research note on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.20.
Insiders Place Their Bet
In other news, Director Grace Colon sold 2,521 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $24.81, for a total transaction of $62,546.01. Following the sale, the director now directly owns 4,864 shares in the company, valued at $120,675.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.
Hedge Funds Weigh In On CareDx
A number of institutional investors and hedge funds have recently bought and sold shares of CDNA. Truist Financial Corp boosted its stake in CareDx by 5.1% in the first quarter. Truist Financial Corp now owns 18,363 shares of the company’s stock worth $679,000 after purchasing an additional 891 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of CareDx by 5.5% during the first quarter. Assenagon Asset Management S.A. now owns 169,859 shares of the company’s stock valued at $6,283,000 after acquiring an additional 8,866 shares during the period. EFG Asset Management North America Corp. lifted its stake in shares of CareDx by 37.6% during the first quarter. EFG Asset Management North America Corp. now owns 105,940 shares of the company’s stock valued at $3,915,000 after acquiring an additional 28,942 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of CareDx by 31.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,967,234 shares of the company’s stock valued at $72,768,000 after acquiring an additional 465,319 shares during the period. Finally, Comerica Bank lifted its stake in shares of CareDx by 2.1% during the first quarter. Comerica Bank now owns 92,695 shares of the company’s stock valued at $3,089,000 after acquiring an additional 1,896 shares during the period.
CareDx Price Performance
The firm has a market cap of $845.20 million, a price-to-earnings ratio of -12.22 and a beta of 1.03. The firm has a 50 day moving average price of $18.01 and a 200-day moving average price of $22.47.
CareDx (NASDAQ:CDNA – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.11). CareDx had a negative net margin of 22.04% and a negative return on equity of 15.09%. The firm had revenue of $80.63 million for the quarter, compared to analyst estimates of $81.85 million. During the same period last year, the company earned ($0.04) EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts expect that CareDx, Inc will post -1.54 EPS for the current fiscal year.
About CareDx
CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It 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.