CareDx, Inc (NASDAQ:CDNA) Receives $29.60 Consensus PT from Brokerages

CareDx, Inc (NASDAQ:CDNA) has received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.60.

A number of equities research analysts have recently commented on CDNA shares. BTIG Research lowered their target price on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Wells Fargo & Company started coverage on CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th.

CareDx Price Performance

Shares of CDNA opened at $22.86 on Thursday. The stock has a 50-day moving average of $24.48 and a 200-day moving average of $23.18. The company has a market cap of $1.23 billion, a PE ratio of -8.47 and a beta of 1.84. CareDx has a one year low of $7.42 and a one year high of $34.84.

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

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in CareDx during the 3rd quarter worth approximately $27,000. Royce & Associates LP grew its holdings in shares of CareDx by 0.3% in the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after purchasing an additional 1,000 shares during the last quarter. Quest Partners LLC grew its holdings in shares of CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx in the third quarter worth $52,000. Finally, ClariVest Asset Management LLC raised its holdings in CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 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.