CareDx, Inc (NASDAQ:CDNA) Receives $30.60 Consensus PT from Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have received a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $30.60.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, August 19th. 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, The Goldman Sachs Group upped their price target 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.

CareDx Price Performance

CDNA stock opened at $22.39 on Wednesday. CareDx has a 12 month low of $4.80 and a 12 month high of $34.84. The firm’s 50-day moving average is $29.04 and its 200 day moving average is $20.10. The company has a market capitalization of $1.17 billion, a PE ratio of -6.55 and a beta of 1.77.

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

Insider Transactions at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. 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 valued at $3,025,415. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of CareDx in the second quarter worth $62,000. nVerses Capital LLC increased its stake in shares of CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after acquiring an additional 2,100 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of CareDx in the second quarter worth $142,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 10,267.2% in the first 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 period.

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.