CareDx (NASDAQ:CDNA) Trading Up 4% – Should You Buy?

CareDx, Inc (NASDAQ:CDNA) shares traded up 4% on Wednesday . The company traded as high as $23.65 and last traded at $23.62. 341,620 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 425,421 shares. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research dropped their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.60.

CareDx Price Performance

The stock has a market cap of $1.27 billion, a P/E ratio of -8.75 and a beta of 1.86. The firm’s fifty day moving average price is $22.94 and its two-hundred day moving average price is $24.12.

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

Insiders Place Their Bets

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now owns 330,024 shares in the company, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in CareDx during the 3rd quarter valued at about $557,000. Lord Abbett & CO. LLC purchased a new position in shares of CareDx during the third quarter valued at approximately $10,873,000. Franklin Resources Inc. increased its position in 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 purchasing an additional 15,238 shares during the period. Virtue Capital Management LLC bought a new position in CareDx in the 3rd quarter worth $755,000. Finally, Geode Capital Management LLC lifted its position in shares of CareDx by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock worth $38,343,000 after purchasing an additional 32,141 shares during the period.

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.