CareDx (NASDAQ:CDNA) Hits New 1-Year High at $17.03

CareDx, Inc (NASDAQ:CDNA)’s share price reached a new 52-week high on Friday . The company traded as high as $17.03 and last traded at $16.56, with a volume of 138241 shares trading hands. The stock had previously closed at $15.83.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Wednesday, May 15th. Craig Hallum upped their target price on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Raymond James lowered CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. The Goldman Sachs Group increased their price objective on CareDx from $10.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Stephens raised their target price on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and an average target price of $16.50.

CareDx Price Performance

The stock has a 50-day moving average price of $10.38 and a 200-day moving average price of $10.09. The company has a market capitalization of $849.42 million, a price-to-earnings ratio of -4.89 and a beta of 1.51.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. The business had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. During the same period in the prior year, the business earned ($0.34) EPS. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. Equities analysts forecast that CareDx, Inc will post -1.59 earnings per share for the current year.

Institutional Trading of CareDx

Hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its holdings in CareDx by 8.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock valued at $12,189,000 after purchasing an additional 92,363 shares during the period. Caxton Associates LP boosted its stake in shares of CareDx by 97.2% in the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock valued at $1,020,000 after buying an additional 47,469 shares during the period. Bamco Inc. NY acquired a new stake in CareDx during the first quarter worth approximately $13,025,000. Price T Rowe Associates Inc. MD increased its stake in CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after acquiring an additional 2,344 shares during the period. Finally, Gagnon Securities LLC increased its stake in CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after acquiring an additional 149,485 shares during the period.

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.