CareDx (NASDAQ:CDNA) Sets New 52-Week High – Time to Buy?

CareDx, Inc. (NASDAQ:CDNA) shares reached a new 52-week high on Monday . The stock traded as high as $29.49 and last traded at $29.17, with a volume of 30497 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CDNA shares. BTIG Research upped their target price on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings raised CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Finally, Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CareDx currently has an average rating of “Hold” and an average price target of $25.00.

CareDx Trading Up 2.4%

The stock’s 50-day moving average price is $22.46 and its 200-day moving average price is $20.15. The company has a market capitalization of $1.52 billion, a P/E ratio of -184.61 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. Sell-side analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Hannah Valantine sold 12,103 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director directly owned 36,686 shares in the company, valued at $847,813.46. This represents a 24.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 21,998 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $24.02, for a total value of $528,391.96. Following the completion of the sale, the chief executive officer owned 649,642 shares in the company, valued at $15,604,400.84. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,218 shares of company stock worth $1,141,288 over the last quarter. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CareDx

Institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC increased its stake in shares of CareDx by 25.4% in the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock valued at $6,909,000 after purchasing an additional 96,123 shares during the period. Paragon Associates & Paragon Associates II Joint Venture raised its holdings in shares of CareDx by 93.7% during the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock valued at $6,180,000 after buying an additional 205,597 shares during the last quarter. Aberdeen Group plc acquired a new position in shares of CareDx during the fourth quarter worth approximately $6,506,000. ARK Investment Management LLC boosted its position in shares of CareDx by 3.4% during the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after buying an additional 70,468 shares during the period. Finally, Portolan Capital Management LLC grew its holdings in CareDx by 48.2% in the 3rd quarter. Portolan Capital Management LLC now owns 933,532 shares of the company’s stock worth $13,574,000 after buying an additional 303,555 shares in the last quarter.

CareDx Company Profile

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.