CareDx (NASDAQ:CDNA) Shares Gap Down to $15.50

CareDx, Inc (NASDAQ:CDNAGet Free Report)’s share price gapped down prior to trading on Monday . The stock had previously closed at $15.50, but opened at $15.08. CareDx shares last traded at $15.25, with a volume of 39,595 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Wednesday, May 15th. Stephens boosted their price objective on CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. The Goldman Sachs Group raised their target price on shares of CareDx from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Craig Hallum lifted their target price on shares of CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday. Finally, Raymond James downgraded CareDx from an “outperform” rating to a “market perform” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.50.

Read Our Latest Stock Analysis on CareDx

CareDx Stock Performance

The firm’s fifty day simple moving average is $10.11 and its 200 day simple moving average is $9.93.

CareDx (NASDAQ:CDNAGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The firm had revenue of $65.57 million for the quarter, compared to the consensus estimate of $63.66 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. CareDx’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. Equities analysts anticipate that CareDx, Inc will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. Kent Lake Capital LLC acquired a new position in shares of CareDx during the 3rd quarter worth about $9,628,000. Bamco Inc. NY bought a new position in shares of CareDx during the 1st quarter worth approximately $13,025,000. ARK Investment Management LLC lifted its holdings in CareDx by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in CareDx by 62.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,114 shares of the company’s stock worth $7,869,000 after purchasing an additional 432,090 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of CareDx by 38.7% in the third quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock valued at $7,036,000 after purchasing an additional 280,345 shares during the last quarter.

About CareDx

(Get Free Report)

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.

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