CareDx (NASDAQ:CDNA) Stock Price Down 7.9% – Time to Sell?

CareDx, Inc. (NASDAQ:CDNA)’s share price fell 7.9% on Thursday . The stock traded as low as $17.37 and last traded at $17.4150. 659,088 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 918,300 shares. The stock had previously closed at $18.90.

Analysts Set New Price Targets

Several research firms have recently commented on CDNA. Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Craig Hallum lowered CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a report on Monday, December 29th. Finally, Wells Fargo & Company raised their price objective on CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.67.

CareDx Price Performance

The business has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $15.84. The company has a market capitalization of $881.00 million, a price-to-earnings ratio of 14.39 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. The firm had revenue of $100.06 million during the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, equities research analysts predict that CareDx, Inc. will post -0.9 EPS for the current year.

Institutional Investors Weigh In On CareDx

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of CareDx by 6.1% during the first quarter. Acadian Asset Management LLC now owns 359,303 shares of the company’s stock worth $6,373,000 after purchasing an additional 20,806 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CareDx in the 2nd quarter valued at about $352,000. Hood River Capital Management LLC boosted its position in shares of CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock valued at $34,507,000 after purchasing an additional 182,025 shares during the period. Envestnet Asset Management Inc. grew its stake in CareDx by 17.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock worth $439,000 after buying an additional 3,389 shares during the last quarter. Finally, Strs Ohio acquired a new position in CareDx during the first quarter worth approximately $462,000.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.