The stock of CareDx Inc (NASDAQ:CDNA) reached all time low today, Nov, 17 and still has $2.80 target or 14.00% below today’s $3.25 share price. This indicates more downside for the $57.64 million company. This technical setup was reported by Barchart.com. If the $2.80 PT is reached, the company will be worth $8.07 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 2.99% or $0.1 on November 17, hitting $3.25. About 65,499 shares traded hands or 443.20% up from the average. CareDx Inc (NASDAQ:CDNA) has declined 24.72% since April 15, 2016 and is downtrending. It has underperformed by 29.34% the S&P500.
CareDx Inc (NASDAQ:CDNA) Ratings Coverage
Out of 3 analysts covering CareDx (NASDAQ:CDNA), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. CareDx has been the topic of 4 analyst reports since September 25, 2015 according to StockzIntelligence Inc. The firm earned “Market Perform” rating on Monday, September 28 by Raymond James. Craig Hallum initiated the stock with “Buy” rating in Friday, September 25 report. The stock of CareDx Inc (NASDAQ:CDNA) has “Buy” rating given on Tuesday, June 14 by Mizuho.
According to Zacks Investment Research, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California.”
Insitutional Activity: The institutional sentiment increased to 1.57 in Q2 2016. Its up 0.07, from 1.5 in 2016Q1. The ratio improved, as 1 funds sold all CareDx Inc shares owned while 6 reduced positions. 4 funds bought stakes while 7 increased positions. They now own 5.81 million shares or 18.74% more from 4.90 million shares in 2016Q1.
Barclays Public Limited owns 68 shares or 0% of their US portfolio. Blackrock Institutional Company Na accumulated 0% or 5,838 shares. Moreover, Gagnon Secs Ltd Liability Com has 2.76% invested in CareDx Inc (NASDAQ:CDNA) for 1.34M shares. Tower Ltd Liability (Trc), a New York-based fund reported 348 shares. The Ontario – Canada-based Ontario Teachers Pension Plan Board has invested 0.01% in CareDx Inc (NASDAQ:CDNA). Moreover, Tpg Gp Holdings (Sbs) Advisors has 0.05% invested in CareDx Inc (NASDAQ:CDNA) for 1.08M shares. State Bank Of America Corporation De last reported 201 shares in the company. Vanguard Grp Inc reported 306,178 shares or 0% of all its holdings. Geode Mngmt Llc has invested 0% of its portfolio in CareDx Inc (NASDAQ:CDNA). Gagnon Advisors Limited Liability accumulated 3.54% or 952,464 shares. California Pub Employees Retirement System last reported 175,000 shares in the company. Moreover, Blackrock Fund Advisors has 0% invested in CareDx Inc (NASDAQ:CDNA) for 21,535 shares. Gabelli Funds Limited Liability Corp holds 0% of its portfolio in CareDx Inc (NASDAQ:CDNA) for 71,672 shares. Morgan Stanley has 5,859 shares for 0% of their US portfolio. Spark Inv Mgmt Limited Co has 16,400 shares for 0.01% of their US portfolio.
Insider Transactions: Since September 21, 2016, the stock had 3 insider buys, and 0 selling transactions for $794,511 net activity. $40,000 worth of CareDx Inc (NASDAQ:CDNA) was bought by Nelles Mitchell J on Monday, September 26. On Monday, September 26 Whitson Todd bought $40,000 worth of the stock or 10,000 shares. $714,511 worth of CareDx Inc (NASDAQ:CDNA) was bought by GAGNON NEIL on Wednesday, September 21.
More news for CareDx Inc (NASDAQ:CDNA) were recently published by: Prnewswire.com, which released: “Heart Transplant Patients Warn That CMS Decision Could Deprive Them Of Needed Care” on October 26, 2016. Prnewswire.com‘s article titled: “CMS Proposal Threatens Availability Of Standard Of Care Blood Test To Heart …” and published on October 03, 2016 is yet another important article.
CDNA Company Profile
CareDx, Inc., incorporated on December 21, 1998, is a molecular diagnostics company. The Firm is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap) is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection. AlloMap is a non-invasive method recommended in the International Society for Heart and Lung Transplantation (ISHLT) patient care guidelines for surveillance of heart transplant rejection in patients 15 years of age or older.
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