CareDx (NASDAQ:CDNA) Trading Down 6.1% - Should You Sell?

CareDx, Inc (NASDAQ:CDNA - Get Free Report)'s stock price dropped 6.1% during trading on Tuesday . The company traded as low as $23.29 and last traded at $23.53. Approximately 510,530 shares traded hands during trading, a decline of 35% from the average daily volume of 790,071 shares. The stock had previously closed at $25.07.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CDNA shares. The Goldman Sachs Group lifted their price objective on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. BTIG Research dropped their target price on CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a research report 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. Finally, HC Wainwright restated a "neutral" rating and issued a $26.00 price objective on shares of CareDx in a report on Tuesday. One investment 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. According to MarketBeat.com, CareDx currently has an average rating of "Moderate Buy" and an average price target of $29.00.

CareDx Stock Down 12.0 %

The stock has a 50-day moving average price of $22.99 and a 200 day moving average price of $24.44. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -8.17 and a beta of 1.86.

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

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now directly 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 SEC, which is available through this link. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of CareDx by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 193,994 shares of the company's stock worth $3,013,000 after purchasing an additional 12,404 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of CareDx by 11.5% in the second quarter. American Century Companies Inc. now owns 108,366 shares of the company's stock valued at $1,683,000 after buying an additional 11,168 shares in the last quarter. Federated Hermes Inc. grew its holdings in CareDx by 7.4% during the second quarter. Federated Hermes Inc. now owns 37,003 shares of the company's stock worth $575,000 after acquiring an additional 2,536 shares during the period. Plato Investment Management Ltd purchased a new position in CareDx in the second quarter worth $62,000. Finally, Renaissance Technologies LLC lifted its holdings in CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock valued at $23,492,000 after acquiring an additional 88,100 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.