CareDx Inc. (CDNA) Trading Down 11.9%
Shares of CareDx Inc. (NASDAQ:CDNA) fell 11.9% during mid-day trading on Wednesday . The company traded as low as $3.75 and last traded at $3.79, with a volume of 275,382 shares. The stock had previously closed at $4.30.
A number of brokerages have recently issued reports on CDNA. Piper Jaffray Cos. reiterated an “overweight” rating and set a $6.00 target price on shares of CareDx in a report on Wednesday, June 15th. Zacks Investment Research upgraded CareDx from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Mizuho boosted their target price on CareDx from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Finally, Leerink Swann reiterated a “buy” rating on shares of CareDx in a report on Tuesday, June 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.25.
The firm has a 50-day moving average price of $4.66 and a 200-day moving average price of $4.72. The company’s market capitalization is $73.82 million.
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CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.01. CareDx had a negative net margin of 91.21% and a negative return on equity of 59.77%. The company earned $10.70 million during the quarter, compared to analyst estimates of $10.42 million. During the same quarter last year, the business earned ($0.27) EPS. The company’s revenue for the quarter was up 50.7% compared to the same quarter last year. On average, equities analysts forecast that CareDx Inc. will post ($1.05) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in CareDx by 15.5% in the first quarter. Royce & Associates LP now owns 85,917 shares of the company’s stock worth $426,000 after buying an additional 11,503 shares during the period. Gagnon Securities LLC increased its stake in shares of CareDx by 62.4% in the second quarter. Gagnon Securities LLC now owns 1,915,534 shares of the company’s stock valued at $7,578,000 after buying an additional 736,020 shares in the last quarter. Gagnon Advisors LLC increased its stake in shares of CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock valued at $4,105,000 after buying an additional 275,496 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock valued at $1,323,000 after buying an additional 225,863 shares in the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.
CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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