CareDx, Inc (NASDAQ:CDNA) Receives $29.60 Average Target Price from Brokerages

CareDx, Inc (NASDAQ:CDNA) has been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. One research 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 target price among brokers that have covered the stock in the last year is $29.60.

Several equities analysts recently issued reports on the company. BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective 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. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th.

Insider Activity at CareDx

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

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in CareDx during the third quarter worth about $27,000. Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx during the 3rd quarter valued at about $52,000. KBC Group NV purchased a new position in shares of CareDx during the 3rd quarter worth about $99,000. nVerses Capital LLC boosted its position 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 last quarter. Finally, Plato Investment Management Ltd purchased a new stake in CareDx in the second quarter valued at approximately $62,000.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $24.00 on Monday. CareDx has a one year low of $7.42 and a one year high of $34.84. The firm has a market capitalization of $1.29 billion, a P/E ratio of -8.89 and a beta of 1.86. The company’s fifty day moving average is $22.89 and its two-hundred day moving average is $24.12.

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

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.