Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $30.60

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $30.60.

Several equities research analysts have recently commented on the stock. Craig Hallum lifted their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 19th.

Insider Buying and Selling at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,340 shares of company stock worth $3,025,415. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after purchasing an additional 18,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in CareDx by 87.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after purchasing an additional 106,660 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of CareDx in the first quarter valued at approximately $238,000. Russell Investments Group Ltd. raised its stake in shares of CareDx by 35.0% during the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock worth $1,294,000 after buying an additional 31,667 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of CareDx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock valued at $45,537,000 after buying an additional 180,334 shares in the last quarter.

CareDx Stock Performance

CareDx stock opened at $22.39 on Wednesday. The stock has a market cap of $1.17 billion, a PE ratio of -6.55 and a beta of 1.77. The stock has a 50-day moving average of $29.04 and a two-hundred day moving average of $20.25. CareDx has a one year low of $4.80 and a one year high of $34.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.37. The firm had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. As a group, sell-side analysts predict that CareDx will post -0.84 EPS for the current fiscal year.

CareDx Company Profile

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.