CareDx (NASDAQ:CDNA) Price Target Cut to $35.00 by Analysts at BTIG Research

CareDx (NASDAQ:CDNA) had its target price decreased by BTIG Research from $40.00 to $35.00 in a research note released on Tuesday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other research firms also recently weighed in on CDNA. Wells Fargo & Company began coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. The Goldman Sachs Group raised their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Craig Hallum boosted their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CareDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Trading Up 2.9 %

Shares of NASDAQ CDNA opened at $23.88 on Tuesday. The business has a 50-day moving average of $27.42 and a 200-day moving average of $20.99. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.84 and a beta of 1.80. CareDx has a 12 month low of $6.11 and a 12 month high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 54.34%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.43) EPS. On average, analysts predict that CareDx will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,561,179.65. This trade represents a 0.00 % 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. In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock valued at $3,025,415 in the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after acquiring an additional 18,481 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CareDx by 87.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock worth $2,417,000 after purchasing an additional 106,660 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of CareDx during the 1st quarter valued at about $238,000. Russell Investments Group Ltd. boosted its stake in shares of CareDx by 35.0% during the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock valued at $1,294,000 after purchasing an additional 31,667 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in CareDx by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after buying an additional 180,334 shares in the last quarter.

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.