CareDx, Inc. (NASDAQ:CDNA) Receives Average Rating of “Hold” from Brokerages

CareDx, Inc. (NASDAQ:CDNA) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.00.

Several research analysts recently commented on the company. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. BTIG Research increased their price objective on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 26th.

CareDx Stock Up 0.6%

CareDx stock opened at $28.93 on Friday. The business has a 50 day moving average price of $24.29 and a two-hundred day moving average price of $20.92. CareDx has a 12 month low of $10.96 and a 12 month high of $30.00. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -180.81 and a beta of 2.43.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.23. The company had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.CareDx’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. On average, analysts expect that CareDx will post 0.22 earnings per share for the current fiscal year.

Insider Transactions at CareDx

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 of the company’s stock, valued at $847,813.46. This trade represents a 24.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 89,218 shares of company stock valued at $2,310,864. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of CareDx

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in CareDx by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock worth $19,703,000 after acquiring an additional 170,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CareDx by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock valued at $2,378,000 after purchasing an additional 13,619 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CareDx by 41.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock valued at $1,340,000 after purchasing an additional 20,028 shares during the last quarter. First Trust Advisors LP acquired a new position in CareDx in the second quarter valued at about $1,822,000. Finally, Nebula Research & Development LLC acquired a new position in CareDx in the second quarter valued at about $281,000.

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.