CareDx (NASDAQ:CDNA) Stock Price Up 15.3% – Should You Buy?

CareDx, Inc. (NASDAQ:CDNA)’s stock price rose 15.3% during mid-day trading on Monday . The company traded as high as $19.84 and last traded at $19.7590. Approximately 210,640 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 842,908 shares. The stock had previously closed at $17.13.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. BTIG Research boosted their price objective on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.67.

CareDx Trading Up 0.6%

The business’s fifty day moving average price is $18.31 and its 200 day moving average price is $15.84. The company has a market capitalization of $1.05 billion, a P/E ratio of 17.08 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last posted its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. The business had revenue of $100.06 million for the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Equities research analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current year.

Institutional Investors Weigh In On CareDx

Large investors have recently made changes to their positions in the company. Deerfield Management Company L.P. acquired a new stake in shares of CareDx during the 3rd quarter worth about $31,857,000. Braidwell LP acquired a new stake in shares of CareDx during the third quarter worth approximately $31,738,000. Next Century Growth Investors LLC increased its holdings in shares of CareDx by 309.4% during the second quarter. Next Century Growth Investors LLC now owns 1,125,454 shares of the company’s stock worth $21,991,000 after buying an additional 850,580 shares in the last quarter. Bamco Inc. NY raised its stake in shares of CareDx by 29.5% in the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after acquiring an additional 719,523 shares during the last quarter. Finally, Amova Asset Management Americas Inc. boosted its holdings in shares of CareDx by 40.8% in the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after acquiring an additional 504,473 shares in the last quarter.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.