CareDx (NASDAQ:CDNA) Sees Unusually-High Trading Volume

Shares of CareDx, Inc (NASDAQ:CDNAGet Rating) saw unusually-high trading volume on Wednesday . Approximately 109,693 shares changed hands during mid-day trading, a decline of 87% from the previous session’s volume of 822,808 shares.The stock last traded at $17.07 and had previously closed at $16.92.

Analyst Upgrades and Downgrades

CDNA has been the topic of a number of recent research reports. StockNews.com raised shares of CareDx from a “sell” rating to a “hold” rating in a research note on Wednesday. BTIG Research reduced their price objective on shares of CareDx to $37.00 in a research note on Monday, August 15th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $56.50.

CareDx Trading Down 1.8 %

The business’s 50-day moving average price is $21.39 and its two-hundred day moving average price is $26.43.

CareDx (NASDAQ:CDNAGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.11). The firm had revenue of $80.63 million for the quarter, compared to the consensus estimate of $81.85 million. CareDx had a negative return on equity of 15.09% and a negative net margin of 22.04%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share. On average, research analysts anticipate that CareDx, Inc will post -1.54 EPS for the current year.

Insider Transactions at CareDx

In related news, Director Grace Colon sold 2,521 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. Hardy Reed LLC bought a new position in shares of CareDx in the 1st quarter valued at about $41,000. Grandeur Peak Global Advisors LLC bought a new stake in shares of CareDx during the 1st quarter worth about $87,000. Lazard Asset Management LLC boosted its holdings in shares of CareDx by 32.0% during the 1st quarter. Lazard Asset Management LLC now owns 3,225 shares of the company’s stock worth $119,000 after buying an additional 782 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of CareDx during the 1st quarter worth about $131,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of CareDx during the 1st quarter worth about $218,000.

About CareDx

(Get Rating)

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.

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