CareDx, Inc (NASDAQ:CDNA) Short Interest Update

CareDx, Inc (NASDAQ:CDNA) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,340,000 shares, an increase of 8.8% from the November 15th total of 3,070,000 shares. Currently, 6.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 824,400 shares, the short-interest ratio is presently 4.1 days.

CareDx Stock Down 1.4 %

Shares of CDNA stock traded down $0.32 on Monday, hitting $22.54. The stock had a trading volume of 353,777 shares, compared to its average volume of 882,161. CareDx has a one year low of $7.42 and a one year high of $34.84. The business has a 50 day moving average price of $24.48 and a 200 day moving average price of $23.24. The company has a market cap of $1.21 billion, a PE ratio of -8.47 and a beta of 1.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. The business had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) EPS. Equities research analysts expect that CareDx will post -0.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CDNA shares. Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, BTIG Research lowered their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

Insider Activity

In other CareDx news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC bought a new position in CareDx in the third quarter worth about $10,873,000. Franklin Resources Inc. grew its position in shares of CareDx by 34.4% in the 3rd quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock worth $1,862,000 after buying an additional 15,238 shares during the last quarter. Virtue Capital Management LLC purchased a new position in shares of CareDx in the 3rd quarter worth approximately $755,000. Geode Capital Management LLC raised its stake in shares of CareDx by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock worth $38,343,000 after acquiring an additional 32,141 shares in the last quarter. Finally, Barclays PLC lifted its position in CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after acquiring an additional 54,482 shares during the last quarter.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also 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.