Market Runner: Time to Buy CareDx Inc After Making 52-Week Low?

Market Runner: Time to Buy CareDx Inc After Making 52 Week Low?

The stock of CareDx Inc (NASDAQ:CDNA) hit a new 52-week low and has $2.64 target or 12.00% below today’s $3.00 share price. The 7 months bearish chart indicates high risk for the $61.87 million company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $2.64 price target is reached, the company will be worth $7.42M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 43,383 shares traded hands or 213.55% up from the average. CareDx Inc (NASDAQ:CDNA) has declined 29.05% since April 19, 2016 and is downtrending. It has underperformed by 32.91% 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. Mizuho maintained CareDx Inc (NASDAQ:CDNA) rating on Tuesday, June 14. Mizuho has “Buy” rating and $8 price target. The stock of CareDx Inc (NASDAQ:CDNA) has “Market Perform” rating given on Monday, September 28 by Raymond James. Craig Hallum initiated the shares of CDNA in a report on Friday, September 25 with “Buy” rating.

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 1.71 in 2016 Q2. Its up 0.14, from 1.57 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.
Deerfield Mngmt has invested 0.01% of its portfolio in CareDx Inc (NASDAQ:CDNA). Highland Mngmt L P accumulated 0.03% or 167,581 shares. Gabelli Funds Limited Liability Company owns 71,672 shares or 0% of their US portfolio. Goldman Sachs Gp holds 0% or 54,141 shares in its portfolio. Moreover, Blackrock Fund Advsr has 0% invested in CareDx Inc (NASDAQ:CDNA) for 21,535 shares. California Public Employees Retirement System holds 0% of its portfolio in CareDx Inc (NASDAQ:CDNA) for 175,000 shares. Tpg Group (Sbs) Advsr has 0.05% invested in the company for 1.08 million shares. Gagnon Ltd Liability Corp has 3.54% invested in the company for 952,464 shares. Paragon Assocs & Paragon Assocs Ii Joint Venture has invested 4.95% of its portfolio in CareDx Inc (NASDAQ:CDNA). Acuta Ltd Limited Liability Company owns 64,627 shares or 0.13% of their US portfolio. Vanguard Group Inc Inc reported 306,178 shares or 0% of all its holdings. Geode Capital Mgmt Ltd Company, a Massachusetts-based fund reported 15,112 shares. Thompson Davis & Incorporated last reported 2,000 shares in the company. Retail Bank Of America De accumulated 201 shares or 0% of the stock. Tower Cap Limited Liability Company (Trc) accumulated 348 shares or 0% of the stock.

Insider Transactions: Since September 21, 2016, the stock had 3 insider buys, and 0 sales for $794,511 net activity. GAGNON NEIL had bought 178,686 shares worth $714,511. $40,000 worth of shares were 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.

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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