CareDx, Inc (NASDAQ:CDNA) Receives Consensus Rating of “Hold” from Brokerages

CareDx, Inc (NASDAQ:CDNA) has received an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $29.60.

Several research firms have recently weighed in on CDNA. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BTIG Research decreased their target price on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd.

CareDx Stock Performance

Shares of CareDx stock opened at $22.33 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of -8.27 and a beta of 1.86. The firm’s 50-day simple moving average is $22.87 and its 200-day simple moving average is $23.92. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84.

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

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The sale 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.

Institutional Trading of CareDx

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in shares of CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Fred Alger Management LLC grew its position in shares of CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after purchasing an additional 963,554 shares during the period. FMR LLC increased its stake in CareDx by 802.4% during the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after purchasing an additional 556,230 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in CareDx during the 3rd quarter worth approximately $10,873,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in CareDx by 78.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after buying an additional 306,222 shares in 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.