CareDx (NASDAQ:CDNA) Reaches New 52-Week Low at $17.04

Shares of CareDx, Inc (NASDAQ:CDNAGet Rating) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $17.04 and last traded at $17.04, with a volume of 59480 shares trading hands. The stock had previously closed at $18.66.

Wall Street Analysts Forecast Growth

CDNA has been the subject of a number of analyst reports. BTIG Research cut their price target on CareDx to $37.00 in a research note on Monday, August 15th. StockNews.com downgraded CareDx from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CareDx currently has an average rating of “Moderate Buy” and a consensus target price of $56.50.

CareDx Stock Performance

The business has a 50 day moving average price of $22.00 and a two-hundred day moving average price of $26.85. The stock has a market cap of $912.03 million, a PE ratio of -12.92 and a beta of 1.02.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. bought a new stake in CareDx during the 2nd quarter valued at $881,000. Captrust Financial Advisors raised its holdings in CareDx by 15.9% during the 2nd quarter. Captrust Financial Advisors now owns 8,663 shares of the company’s stock valued at $186,000 after acquiring an additional 1,190 shares during the period. Legal & General Group Plc raised its holdings in CareDx by 13.1% during the 2nd quarter. Legal & General Group Plc now owns 116,762 shares of the company’s stock valued at $2,508,000 after acquiring an additional 13,507 shares during the period. Walleye Capital LLC bought a new stake in CareDx during the 2nd quarter valued at $781,000. Finally, Goldman Sachs Group Inc. raised its holdings in CareDx by 2.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 399,987 shares of the company’s stock valued at $8,592,000 after acquiring an additional 9,613 shares during the period.

About CareDx

(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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