CareDx (NASDAQ:CDNA) Sees Unusually-High Trading Volume – What’s Next?

Shares of CareDx, Inc (NASDAQ:CDNA) saw unusually-high trading volume on Monday . Approximately 456,999 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 582,317 shares.The stock last traded at $23.55 and had previously closed at $23.63.

Analyst Ratings Changes

A number of brokerages recently weighed in on CDNA. HC Wainwright restated a “neutral” rating and set a $26.00 price objective on shares of CareDx in a research report on Tuesday. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $24.00 in a research report on Wednesday. The Goldman Sachs Group upped their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, BTIG Research reduced their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.33.

CareDx Trading Down 12.0 %

The stock’s 50-day moving average price is $22.99 and its 200-day moving average price is $24.44. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -8.17 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last released its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.11. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. CareDx’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.43) earnings per share. As a group, analysts predict that CareDx, Inc will post -0.7 earnings per share for the current year.

Insider Activity

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of large investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of CareDx during the third quarter valued at about $27,000. Royce & Associates LP raised its stake in CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after buying an additional 1,000 shares during the period. Quest Partners LLC boosted its holdings in CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after acquiring an additional 1,540 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in CareDx in the third quarter valued at approximately $52,000. Finally, nVerses Capital LLC grew its stake in CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after acquiring an additional 2,100 shares during the period.

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.