CareDx (NASDAQ:CDNA) Trading Up 4% - Should You Buy?

CareDx, Inc (NASDAQ:CDNA - Get Free Report)'s stock price was up 4% during mid-day trading on Wednesday . The company traded as high as $23.65 and last traded at $23.62. Approximately 341,620 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 425,421 shares. The stock had previously closed at $22.72.

Analyst Upgrades and Downgrades

A number of research firms have commented on CDNA. 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. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Finally, HC Wainwright restated a "neutral" rating on shares of CareDx in a research note on Tuesday, October 22nd. One equities 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. Based on data from MarketBeat, CareDx has a consensus rating of "Moderate Buy" and a consensus target price of $29.60.

CareDx Price Performance

The company has a fifty day moving average price of $22.89 and a 200 day moving average price of $24.12. The company has a market capitalization of $1.29 billion, a P/E ratio of -8.89 and a beta of 1.86.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period last year, the company earned ($0.43) earnings per share. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. On average, equities research analysts predict that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now owns 330,024 shares of the company's stock, valued at $8,250,600. The trade was a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently modified their holdings of CDNA. Quarry LP acquired a new position in CareDx during the 3rd quarter valued at about $27,000. Harvest Fund Management Co. Ltd bought a new position in shares of CareDx in the third quarter valued at approximately $52,000. Plato Investment Management Ltd acquired a new position in shares of CareDx during the second quarter valued at approximately $62,000. KBC Group NV bought a new stake in CareDx during the third quarter worth approximately $99,000. Finally, nVerses Capital LLC lifted its position in CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock worth $103,000 after purchasing an additional 2,100 shares during the period.

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.