CareDx (NASDAQ:CDNA) Stock Crosses Below 200 Day Moving Average – Should You Sell?

CareDx, Inc. (NASDAQ:CDNA) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.47 and traded as low as $17.20. CareDx shares last traded at $17.84, with a volume of 641,998 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Tuesday, January 6th. BTIG Research upped their target price on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised their price target on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.33.

CareDx Stock Performance

The stock has a market cap of $894.81 million, a PE ratio of -43.68 and a beta of 2.52. The company’s 50-day moving average price is $19.02 and its two-hundred day moving average price is $17.47.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The company had revenue of $108.39 million during the quarter, compared to analysts’ expectations of $102.76 million. During the same quarter last year, the firm posted $0.18 earnings per share. The firm’s revenue was up 25.2% on a year-over-year basis. Equities research analysts forecast that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the transaction, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This trade represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 29,636 shares of company stock worth $625,949. Company insiders own 4.40% of the company’s stock.

Institutional Trading of CareDx

Several hedge funds and other institutional investors have recently bought and sold shares of CDNA. Bamco Inc. NY raised its stake in shares of CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after acquiring an additional 719,523 shares in the last quarter. State Street Corp grew its holdings in shares of CareDx by 6.7% during the 4th quarter. State Street Corp now owns 2,737,752 shares of the company’s stock valued at $51,579,000 after purchasing an additional 171,303 shares during the last quarter. Deerfield Management Company L.P. bought a new position in shares of CareDx during the 3rd quarter valued at $31,857,000. Braidwell LP purchased a new position in CareDx in the 3rd quarter worth $31,738,000. Finally, ARK Investment Management LLC raised its position in CareDx by 3.4% in the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after purchasing an additional 70,468 shares during the period.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.