Analysts Set CareDx, Inc (NASDAQ:CDNA) Target Price at $28.33

Shares of CareDx, Inc (NASDAQ:CDNA) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.33.

CDNA has been the topic of a number of analyst reports. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reaffirmed a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research report on Tuesday, January 14th. The Goldman Sachs Group upped 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. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, BTIG Research lowered their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Insider Activity

In other news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in CareDx by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company’s stock worth $406,000 after buying an additional 1,151 shares in the last quarter. Rhumbline Advisers increased its stake in CareDx by 1.8% in the 4th quarter. Rhumbline Advisers now owns 81,201 shares of the company’s stock worth $1,738,000 after buying an additional 1,451 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in CareDx by 59.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company’s stock worth $7,008,000 after buying an additional 122,356 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in CareDx by 6.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock worth $623,000 after buying an additional 1,816 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in CareDx by 31.0% in the 4th quarter. SG Americas Securities LLC now owns 24,087 shares of the company’s stock worth $516,000 after buying an additional 5,706 shares in the last quarter.

CareDx Stock Performance

CDNA stock opened at $23.30 on Friday. The business’s 50 day moving average price is $22.97 and its two-hundred day moving average price is $25.07. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.63 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping 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 firm had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the previous year, the firm posted ($0.43) EPS. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. Sell-side analysts forecast that CareDx will post -0.9 earnings per share 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.