CareDx, Inc (NASDAQ:CDNA) Sees Large Drop in Short Interest

CareDx, Inc (NASDAQ:CDNA - Get Free Report) saw a significant decrease in short interest in December. As of December 15th, there was short interest totalling 3,120,000 shares, a decrease of 6.6% from the November 30th total of 3,340,000 shares. Based on an average daily trading volume, of 842,500 shares, the days-to-cover ratio is currently 3.7 days. Currently, 6.2% of the company's shares are sold short.

CareDx Trading Up 1.1 %

CareDx stock traded up $0.23 during trading hours on Tuesday, reaching $21.41. 781,656 shares of the company were exchanged, compared to its average volume of 879,223. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.93 and a beta of 1.84. The stock has a 50-day moving average of $22.94 and a 200 day moving average of $23.83.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. The business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. CareDx's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) EPS. As a group, research analysts forecast that CareDx will post -0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BTIG Research lowered their target price on CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. HC Wainwright reaffirmed a "neutral" rating on shares of CareDx in a research report on Tuesday, October 22nd. Finally, StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.60.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now owns 330,024 shares in the company, valued at $8,250,600. This represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.90% of the company's stock.

Institutional Trading of CareDx

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of CareDx during the third quarter worth approximately $27,000. Harvest Fund Management Co. Ltd bought a new stake in CareDx in the 3rd quarter valued at $52,000. KBC Group NV bought a new position in shares of CareDx during the 3rd quarter worth about $99,000. nVerses Capital LLC raised its position in shares of CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock valued at $103,000 after buying an additional 2,100 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of CareDx in the second quarter valued at about $62,000.

About CareDx

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.