Analysts Set CareDx, Inc (NASDAQ:CDNA) Target Price at $29.60

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.60.

Several research firms have weighed in on CDNA. BTIG Research cut their price target on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. 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 upped their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd.

CareDx Stock Performance

CDNA stock opened at $23.63 on Monday. The company’s fifty day moving average price is $22.96 and its 200-day moving average price is $24.32. CareDx has a one year low of $7.42 and a one year high of $34.84. The company has a market capitalization of $1.27 billion, a PE ratio of -8.75 and a beta of 1.86.

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

Insider Activity

In other news, Director Peter Maag sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 330,024 shares in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of CareDx during the third quarter valued at $27,000. Royce & Associates LP grew its stake in CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after acquiring an additional 1,000 shares in the last quarter. Quest Partners LLC increased its position in shares of CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after acquiring an additional 1,540 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx in the third quarter valued at approximately $52,000. Finally, ClariVest Asset Management LLC grew its stake in CareDx by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after purchasing an additional 1,810 shares in the last quarter.

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.