CareDx, Inc (NASDAQ:CDNA) Receives $29.60 Consensus Price Target from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.60.

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report 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, BTIG Research decreased their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the director now owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.90% of the company’s stock.

Institutional Trading of CareDx

A number of large investors have recently made changes to their positions in CDNA. Quarry LP acquired a new position in CareDx in the 3rd quarter valued at $27,000. Royce & Associates LP grew its position in shares of CareDx by 0.3% in the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after purchasing an additional 1,000 shares during the period. Quest Partners LLC increased its stake in CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after purchasing an additional 1,540 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in CareDx during the third quarter worth about $52,000. Finally, ClariVest Asset Management LLC boosted its stake in CareDx by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after buying an additional 1,810 shares during the last quarter.

CareDx Trading Down 1.5 %

NASDAQ:CDNA opened at $23.63 on Monday. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The stock’s 50 day simple moving average is $22.94 and its 200-day simple moving average is $24.12. The firm has a market cap of $1.27 billion, a P/E ratio of -8.75 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) 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 net margin of 45.90% and a negative return on equity of 53.70%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.43) earnings per share. Research analysts forecast that CareDx will post -0.7 EPS for the current fiscal year.

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.