CareDx, Inc (NASDAQ:CDNA) Short Interest Update

CareDx, Inc (NASDAQ:CDNA) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,970,000 shares, a growth of 27.2% from the December 15th total of 3,120,000 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average daily volume of 811,600 shares, the short-interest ratio is currently 4.9 days.

CareDx Trading Down 2.8 %

Shares of CDNA stock traded down $0.62 on Friday, reaching $21.44. The company’s stock had a trading volume of 872,198 shares, compared to its average volume of 594,464. The stock’s fifty day simple moving average is $22.90 and its 200-day simple moving average is $24.46. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.94 and a beta of 1.86.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CDNA shares. BTIG Research decreased their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $28.00 to $24.00 in a research report on Wednesday. Finally, HC Wainwright reiterated a “neutral” rating and issued a $26.00 price target on shares of CareDx in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CareDx

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of CareDx during the 3rd quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx in the third quarter valued at $52,000. KBC Group NV bought a new stake in shares of CareDx in the 3rd quarter worth about $99,000. nVerses Capital LLC boosted its stake in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares during the period. Finally, Quest Partners LLC grew its holdings in CareDx by 37.8% during the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after purchasing an additional 1,540 shares during the last quarter.

About CareDx

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.