CareDx, Inc (NASDAQ:CDNA) shares rose 6% on Tuesday after an insider bought additional shares in the company. The company traded as high as $44.25 and last traded at $44.25. Approximately 2,552 shares were traded during trading, a decline of 100% from the average daily volume of 766,196 shares. The stock had previously closed at $41.74.Specifically, CFO Ankur Dhingra bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 24th. The stock was purchased at an average price of $42.34 per share, for a total transaction of $211,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Maag sold 10,000 shares of the stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $73.68, for a total transaction of $736,800.00. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $1,932,520 over the last three months. 4.60% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on the stock. Raymond James reduced their price objective on shares of CareDx from $108.00 to $90.00 and set a “strong-buy” rating for the company in a research report on Friday, October 29th. Zacks Investment Research lowered shares of CareDx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 3rd. Finally, BTIG Research restated a “buy” rating and set a $99.00 price objective on shares of CareDx in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $97.60.
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The company has a market capitalization of $2.37 billion, a PE ratio of -127.11 and a beta of 0.52. The business’s 50 day simple moving average is $57.69 and its 200 day simple moving average is $72.47.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, October 28th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.21. CareDx had a negative net margin of 6.54% and a negative return on equity of 4.24%. The company had revenue of $75.60 million during the quarter, compared to analyst estimates of $74.11 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was up 41.6% on a year-over-year basis. On average, research analysts expect that CareDx, Inc will post -0.47 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of CDNA. Macquarie Group Ltd. lifted its position in shares of CareDx by 62,172.0% in the second quarter. Macquarie Group Ltd. now owns 1,442,843 shares of the company’s stock worth $132,049,000 after purchasing an additional 1,440,526 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of CareDx by 196.5% in the third quarter. Conestoga Capital Advisors LLC now owns 1,032,358 shares of the company’s stock worth $65,421,000 after purchasing an additional 684,171 shares in the last quarter. Millennium Management LLC lifted its position in shares of CareDx by 996.9% in the second quarter. Millennium Management LLC now owns 544,162 shares of the company’s stock worth $49,802,000 after purchasing an additional 494,554 shares in the last quarter. Blue Water Life Science Advisors LLC lifted its position in shares of CareDx by 76.8% in the third quarter. Blue Water Life Science Advisors LLC now owns 920,491 shares of the company’s stock worth $58,331,000 after purchasing an additional 399,975 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of CareDx by 263.3% in the second quarter. Morgan Stanley now owns 500,535 shares of the company’s stock worth $45,809,000 after purchasing an additional 362,771 shares in the last quarter.
CareDx Company Profile (NASDAQ:CDNA)
CareDx, Inc operates as a transplant diagnostics company, which discovers, develops and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure and Laboratory products. The company was founded on December 21, 1998 and is headquartered in South San Francisco, CA.
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Read More: CareDx (NASDAQ:CDNA) Stock Price Up 6% on Insider Buying Activity