Analysts Set CareDx, Inc. (NASDAQ:CDNA) Price Target at $44.00

Shares of CareDx, Inc. (NASDAQ:CDNA) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $47.75.

A number of brokerages have issued reports on CDNA. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 target price on shares of CareDx in a research report on Friday, July 31st. BTIG Research boosted their price objective on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday. William Blair upgraded shares of CareDx to a “hold” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 30th.

CareDx Price Performance

NASDAQ CDNA opened at $44.81 on Tuesday. CareDx has a fifty-two week low of $11.26 and a fifty-two week high of $49.76. The stock’s 50-day moving average is $30.54 and its two-hundred day moving average is $23.36. The firm has a market cap of $2.32 billion, a P/E ratio of 21.65 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The firm’s revenue was up 52.2% on a year-over-year basis. On average, equities analysts expect that CareDx will post 0.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the transaction, the chief executive officer owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the sale, the director owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. The trade was a 24.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 114,936 shares of company stock valued at $3,770,348. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CDNA. Quarry LP bought a new stake in shares of CareDx in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in CareDx during the fourth quarter worth $79,000. Quantbot Technologies LP acquired a new position in CareDx during the 3rd quarter valued at $89,000. CWM LLC raised its stake in CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after purchasing an additional 4,026 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in CareDx by 120.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after purchasing an additional 4,160 shares during the period.

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.