CareDx (NASDAQ:CDNA) Shares Up 9.2%

Shares of CareDx Inc (NASDAQ:CDNA) shot up 9.2% during trading on Thursday . The stock traded as high as $42.79 and last traded at $41.43. 1,823,169 shares traded hands during trading, an increase of 171% from the average session volume of 673,509 shares. The stock had previously closed at $37.94.

Several research firms recently commented on CDNA. Jefferies Financial Group restated a “buy” rating and set a $35.00 price target on shares of CareDx in a research report on Monday, August 10th. Raymond James raised their price target on shares of CareDx from $40.00 to $42.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 5th. HC Wainwright raised their price target on shares of CareDx from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. BidaskClub downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, BTIG Research raised their price target on shares of CareDx from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. CareDx has a consensus rating of “Buy” and a consensus target price of $43.38.

The company has a market cap of $2.03 billion, a P/E ratio of -94.16 and a beta of 1.00. The company’s 50-day moving average is $33.27 and its two-hundred day moving average is $29.80.

CareDx (NASDAQ:CDNA) last posted its earnings results on Tuesday, August 4th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $41.80 million during the quarter, compared to the consensus estimate of $35.61 million. CareDx had a negative net margin of 12.66% and a negative return on equity of 13.58%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. Analysts predict that CareDx Inc will post -0.75 EPS for the current fiscal year.

In other CareDx news, CEO Peter Maag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $31.68, for a total value of $316,800.00. Following the transaction, the chief executive officer now directly owns 431,974 shares in the company, valued at approximately $13,684,936.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 50,000 shares of company stock worth $1,775,933 over the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in CareDx by 265.8% during the first quarter. Invesco Ltd. now owns 2,760,482 shares of the company’s stock worth $60,261,000 after acquiring an additional 2,005,791 shares during the period. State Street Corp increased its stake in shares of CareDx by 0.3% in the first quarter. State Street Corp now owns 2,572,766 shares of the company’s stock worth $56,163,000 after acquiring an additional 7,923 shares during the period. Vanguard Group Inc. increased its stake in shares of CareDx by 12.0% in the second quarter. Vanguard Group Inc. now owns 2,409,014 shares of the company’s stock worth $85,351,000 after acquiring an additional 258,581 shares during the period. First Light Asset Management LLC increased its stake in shares of CareDx by 22.8% in the second quarter. First Light Asset Management LLC now owns 1,332,938 shares of the company’s stock worth $47,226,000 after acquiring an additional 247,186 shares during the period. Finally, Casdin Capital LLC increased its stake in shares of CareDx by 7.9% in the first quarter. Casdin Capital LLC now owns 1,294,335 shares of the company’s stock worth $28,255,000 after acquiring an additional 94,335 shares during the period.

CareDx Company Profile (NASDAQ:CDNA)

CareDx, Inc, a precision medicine company, discovers, develops, and commercializes healthcare solutions for transplant patients and caregivers worldwide. It offers AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; and AlloMap Heart, a gene expression solution for heart transplant patients.

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