CareDx, Inc. (NASDAQ:CDNA) Given Average Recommendation of “Hold” by Brokerages

CareDx, Inc. (NASDAQ:CDNA) has received an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $47.75.

A number of equities analysts recently issued reports on CDNA shares. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. BTIG Research upped their target price on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research report on Friday, July 31st.

CareDx Price Performance

NASDAQ:CDNA opened at $46.69 on Tuesday. The firm has a market capitalization of $2.42 billion, a PE ratio of 22.56 and a beta of 2.39. The business’s fifty day moving average price is $31.01 and its 200 day moving average price is $23.52. CareDx has a 12 month low of $11.27 and a 12 month high of $49.76.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period in the previous year, the business earned ($0.16) EPS. CareDx’s revenue for the quarter was up 52.2% on a year-over-year basis. As a group, equities analysts anticipate that CareDx will post 0.47 EPS for the current year.

Insider Transactions at CareDx

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the transaction, the director owned 36,686 shares in the company, valued at $847,813.46. This represents a 24.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 114,936 shares of company stock worth $3,770,348 over the last three months. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNA. Quarry LP purchased a new position in shares of CareDx during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new stake in CareDx in the 4th quarter valued at $79,000. Quantbot Technologies LP acquired a new stake in CareDx during the 3rd quarter worth $89,000. CWM LLC grew its position in CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after purchasing an additional 4,160 shares during the last quarter.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.