CareDx (NASDAQ:CDNA) Sees Strong Trading Volume

CareDx, Inc (NASDAQ:CDNAGet Rating) saw an uptick in trading volume on Wednesday . 109,693 shares were traded during 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.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CDNA. StockNews.com upgraded shares of CareDx from a “sell” rating to a “hold” rating in a research report on Wednesday. BTIG Research cut their price objective on shares of CareDx to $37.00 in a research report on Monday, August 15th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.50.

CareDx Price Performance

The stock has a 50-day simple moving average of $21.39 and a two-hundred day simple moving average of $26.43.

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

Insider Buying and Selling

In other CareDx news, Director Grace Colon sold 2,521 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $24.81, for a total value of $62,546.01. Following the completion of the transaction, the director now directly owns 4,864 shares in the company, valued at approximately $120,675.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hardy Reed LLC bought a new position in shares of CareDx during the 1st quarter valued at approximately $41,000. Grandeur Peak Global Advisors LLC purchased a new stake in CareDx in the first quarter worth $87,000. Lazard Asset Management LLC increased its stake in CareDx by 64.0% in the second quarter. Lazard Asset Management LLC now owns 5,290 shares of the company’s stock worth $113,000 after purchasing an additional 2,065 shares during the period. Shell Asset Management Co. increased its stake in CareDx by 152.9% in the second quarter. Shell Asset Management Co. now owns 5,953 shares of the company’s stock worth $128,000 after purchasing an additional 3,599 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in CareDx in the first quarter worth $131,000.

CareDx Company Profile

(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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