CareDx (NASDAQ:CDNA) Shares Gap Down - Should You Sell?

CareDx, Inc (NASDAQ:CDNA - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $31.31, but opened at $28.73. CareDx shares last traded at $25.92, with a volume of 478,529 shares changing hands.

Wall Street Analyst Weigh In

CDNA has been the subject of a number of analyst reports. BTIG Research raised shares of CareDx from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Monday, August 19th. HC Wainwright restated a "neutral" rating on shares of CareDx in a research note on Thursday, August 1st. Craig Hallum upped their price objective on CareDx from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They issued an "underweight" rating and a $28.00 target price for the company. Finally, The Goldman Sachs Group increased their price objective on CareDx from $16.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CareDx currently has a consensus rating of "Hold" and an average target price of $28.80.

CareDx Stock Performance

The stock has a 50-day moving average of $29.67 and a 200 day moving average of $19.36. The firm has a market capitalization of $1.37 billion, a P/E ratio of -7.97 and a beta of 1.77.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The company had revenue of $92.27 million for the quarter, compared to analysts' expectations of $67.20 million. On average, equities analysts predict that CareDx, Inc will post -0.84 EPS for the current year.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 35,552 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the transaction, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Alexander L. Johnson sold 21,557 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Maag sold 35,552 shares of the business's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares of the company's stock, valued at $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,340 shares of company stock worth $3,025,415. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC lifted its holdings in CareDx by 9.2% in the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company's stock valued at $2,743,000 after buying an additional 21,892 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of CareDx by 10,267.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company's stock valued at $198,000 after acquiring an additional 18,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of CareDx by 87.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company's stock valued at $2,417,000 after purchasing an additional 106,660 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of CareDx in the 1st quarter worth $238,000. Finally, Russell Investments Group Ltd. grew its stake in shares of CareDx by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company's stock worth $1,294,000 after purchasing an additional 31,667 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.