CareDx, Inc (NASDAQ:CDNA) Short Interest Up 27.2% in December

CareDx, Inc (NASDAQ:CDNA) saw a significant growth in short interest in 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. Based on an average daily volume of 811,600 shares, the days-to-cover ratio is currently 4.9 days. Approximately 7.9% of the shares of the stock are short sold.

Analyst Ratings Changes

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

CareDx Price Performance

Shares of NASDAQ:CDNA traded down $0.62 during midday trading on Friday, hitting $21.44. The company had a trading volume of 872,198 shares, compared to its average volume of 594,464. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -7.94 and a beta of 1.86. The business’s 50-day simple moving average is $22.90 and its 200-day simple moving average is $24.52.

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

Insiders Place Their Bets

In related news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The shares were 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 approximately $8,250,600. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

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

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.