CareDx (NASDAQ:CDNA) PT Raised to $35.00

CareDx (NASDAQ:CDNA) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $26.00 to $35.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 42.97% from the stock’s current price.

CDNA has been the topic of several other reports. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Monday, August 19th. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. Wells Fargo & Company initiated coverage on CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. Craig Hallum boosted their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.60.

CareDx Price Performance

CDNA stock opened at $24.48 on Wednesday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.16 and a beta of 1.77. CareDx has a 1-year low of $4.80 and a 1-year high of $34.84. The business has a 50 day simple moving average of $29.68 and a two-hundred day simple moving average of $19.55.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.37. The firm had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. Sell-side analysts anticipate that CareDx will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on 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 directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CareDx news, Director Peter Maag sold 35,552 shares of the company’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 directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their position. 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

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares during the last quarter. Plato Investment Management Ltd acquired a new position in CareDx during the second quarter worth $62,000. nVerses Capital LLC grew its holdings in CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after buying an additional 2,100 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in CareDx in the 2nd quarter valued at $142,000. Finally, 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 worth $198,000 after acquiring an additional 18,481 shares during the last quarter.

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.