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

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.00.

A number of equities analysts have issued reports on CDNA shares. Craig Hallum lifted their price target on CareDx from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 17th. StockNews.com cut CareDx from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Stephens increased their price target on CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Friday, May 31st. Finally, The Goldman Sachs Group upped their target price on shares of CareDx from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th.

CareDx Stock Down 0.3 %

Shares of CDNA opened at $18.09 on Monday. The business’s fifty day moving average is $15.11 and its 200 day moving average is $11.62. CareDx has a 12-month low of $4.80 and a 12-month high of $19.00. The stock has a market cap of $942.13 million, a P/E ratio of -5.29 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.18. The firm had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. On average, analysts expect that CareDx will post -1.49 EPS for the current year.

Institutional Trading of CareDx

A number of hedge funds have recently bought and sold shares of CDNA. GAMMA Investing LLC grew its stake in CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares during the period. Headlands Technologies LLC purchased a new position in shares of CareDx in the 4th quarter worth about $50,000. Nisa Investment Advisors LLC boosted its holdings in shares of CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after buying an additional 5,253 shares during the last quarter. Quest Partners LLC bought a new position in CareDx during the fourth quarter valued at about $117,000. Finally, Cetera Trust Company N.A purchased a new stake in CareDx during the fourth quarter worth about $142,000.

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.