CareDx, Inc (NASDAQ:CDNA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $28.33.

Several research firms recently commented on CDNA. BTIG Research cut their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. HC Wainwright restated a “neutral” rating and issued a $26.00 target price on shares of CareDx in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th.

Insider Activity

In related news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the director now owns 330,024 shares in the company, valued at $8,250,600. The trade was a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CareDx

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in CareDx in the third quarter valued at about $27,000. Harvest Fund Management Co. Ltd bought a new position in shares of CareDx in the 3rd quarter valued at about $52,000. KBC Group NV bought a new stake in shares of CareDx during the third quarter worth approximately $99,000. nVerses Capital LLC lifted its holdings in CareDx by 175.0% in the third 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 during the period. Finally, Quest Partners LLC boosted its stake in CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after acquiring an additional 1,540 shares during the last quarter.

CareDx Price Performance

Shares of CDNA stock opened at $22.98 on Friday. CareDx has a one year low of $7.42 and a one year high of $34.84. The stock has a fifty day moving average price of $22.97 and a 200 day moving average price of $24.93. The stock has a market cap of $1.23 billion, a P/E ratio of -8.51 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last issued its 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. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) EPS. Equities research analysts anticipate that CareDx will post -0.9 EPS for the current year.

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.