CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Hold” by Brokerages

CareDx, Inc (NASDAQ:CDNA) has been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $29.60.

A number of brokerages have commented on CDNA. Wells Fargo & Company began coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Craig Hallum upped their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BTIG Research cut their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

CareDx Stock Down 1.8 %

NASDAQ CDNA opened at $21.17 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of -7.84 and a beta of 1.80. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The business’s 50-day moving average price is $26.68 and its 200 day moving average price is $21.70.

CareDx (NASDAQ:CDNA) last released its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, analysts anticipate that CareDx will post -0.7 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Peter Maag sold 35,552 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. This represents a 9.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This represents a 10.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.90% of the stock is owned by insiders.

Institutional Trading of CareDx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. Geode Capital Management LLC lifted its holdings in CareDx by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after purchasing an additional 32,141 shares in the last quarter. Barclays PLC lifted its stake in shares of CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company’s stock worth $3,075,000 after purchasing an additional 54,482 shares during the period. Main Management ETF Advisors LLC purchased a new position in shares of CareDx during the 3rd quarter worth $1,405,000. XTX Topco Ltd acquired a new stake in shares of CareDx during the third quarter worth $497,000. Finally, Castleark Management LLC purchased a new stake in shares of CareDx in the third quarter valued at $4,368,000.

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.