Short Interest in CareDx, Inc (NASDAQ:CDNA) Grows By 10.6%

CareDx, Inc (NASDAQ:CDNA) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,660,000 shares, an increase of 10.6% from the August 31st total of 3,310,000 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average daily trading volume, of 876,300 shares, the short-interest ratio is currently 4.2 days.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the transaction, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,340 shares of company stock worth $3,025,415. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in CareDx during the second quarter valued at about $62,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the second quarter worth about $142,000. Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after buying an additional 18,481 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of CareDx in the 1st quarter valued at about $238,000.

Analyst Ratings Changes

Several brokerages have weighed in on CDNA. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. The Goldman Sachs Group increased their target price on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Craig Hallum raised their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, August 19th. Finally, Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.80.

CareDx Stock Down 2.6 %

NASDAQ:CDNA traded down $0.81 during trading hours on Tuesday, hitting $30.42. 429,910 shares of the company’s stock traded hands, compared to its average volume of 893,871. The firm has a market cap of $1.58 billion, a P/E ratio of -8.76 and a beta of 1.77. The business’s fifty day simple moving average is $27.56 and its two-hundred day simple moving average is $17.89. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.37. The business had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. On average, analysts expect that CareDx will post -0.84 EPS for the current year.

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.