CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Moderate Buy” by Brokerages

CareDx, Inc (NASDAQ:CDNA) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $30.33.

CDNA has been the subject of a number of research analyst reports. HC Wainwright restated a “neutral” rating and issued a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. StockNews.com cut CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Stephens restated an “overweight” rating and issued a $40.00 price target on shares of CareDx in a research report on Monday, May 5th.

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the completion of the sale, the director now owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine Cournoyer sold 29,136 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the transaction, the director now directly owns 37,045 shares of the company’s stock, valued at approximately $591,238.20. This represents a 44.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,382 shares of company stock worth $934,509. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CDNA. Barclays PLC increased its stake in shares of CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after acquiring an additional 54,482 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of CareDx by 34.4% during the 3rd quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock valued at $1,862,000 after acquiring an additional 15,238 shares during the last quarter. ARS Investment Partners LLC increased its stake in shares of CareDx by 6.3% during the 4th quarter. ARS Investment Partners LLC now owns 101,968 shares of the company’s stock valued at $2,183,000 after acquiring an additional 6,083 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of CareDx by 31.0% during the 4th quarter. SG Americas Securities LLC now owns 24,087 shares of the company’s stock valued at $516,000 after acquiring an additional 5,706 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of CareDx by 6.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock valued at $623,000 after acquiring an additional 1,816 shares during the last quarter.

CareDx Stock Performance

CareDx stock opened at $17.54 on Friday. CareDx has a one year low of $12.90 and a one year high of $34.84. The business has a fifty day moving average of $17.62 and a two-hundred day moving average of $20.92. The company has a market cap of $976.64 million, a P/E ratio of -6.50 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $84.56 million. During the same quarter last year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Sell-side analysts predict 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.