CareDx, Inc (NASDAQ:CDNA) Receives Average Rating of “Hold” from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $29.60.

Several brokerages have issued reports on CDNA. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research reduced their price target on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th.

Insiders Place Their Bets

In other CareDx 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 transaction of $125,000.00. Following the completion of the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

Large investors have recently modified their holdings of the stock. Quarry LP bought a new position in CareDx in the 3rd quarter valued at about $27,000. Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx in the third quarter valued at approximately $52,000. Plato Investment Management Ltd acquired a new position in shares of CareDx in the second quarter valued at approximately $62,000. KBC Group NV acquired a new stake in CareDx during the 3rd quarter worth approximately $99,000. Finally, nVerses Capital LLC lifted its holdings in CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares during the last quarter.

CareDx Price Performance

CDNA stock opened at $22.33 on Monday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -8.27 and a beta of 1.86. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The business has a 50-day moving average of $22.87 and a 200-day moving average of $23.92.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the business earned ($0.43) EPS. Equities analysts expect that CareDx will post -0.7 EPS for the current year.

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.