CareDx (NASDAQ:CDNA) Stock Price Up 5.8% – What’s Next?

CareDx, Inc. (NASDAQ:CDNA)’s stock price rose 5.8% on Thursday . The stock traded as high as $56.57 and last traded at $57.4760. Approximately 98,993 shares were traded during trading, a decline of 89% from the average session volume of 882,494 shares. The stock had previously closed at $54.31.

Analysts Set New Price Targets

CDNA has been the subject of a number of recent research reports. HC Wainwright restated a “neutral” rating and issued a $46.00 target price on shares of CareDx in a research note on Friday, July 31st. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, August 3rd. William Blair raised shares of CareDx to a “hold” rating in a report on Thursday, July 16th. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, BTIG Research raised their price objective on shares of CareDx from $60.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.00.

CareDx Stock Performance

The company has a market capitalization of $3.06 billion, a P/E ratio of 28.62 and a beta of 2.43. The firm has a 50 day moving average price of $46.88 and a two-hundred day moving average price of $30.61.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.CareDx’s revenue was up 52.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. On average, equities analysts expect that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, Director Christine Cournoyer sold 16,000 shares of CareDx stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the transaction, the director directly owned 42,943 shares of the company’s stock, valued at approximately $2,015,744.42. This trade represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Walter Jr sold 39,900 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the sale, the chief executive officer owned 661,959 shares in the company, valued at $19,355,681.16. This represents a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 76,000 shares of company stock valued at $2,846,216. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of CareDx during the second quarter worth approximately $1,505,000. Man Group plc bought a new position in shares of CareDx in the second quarter valued at approximately $3,618,000. Bamco Inc. NY acquired a new position in shares of CareDx in the 2nd quarter worth approximately $55,214,000. Virtus Advisers LLC acquired a new position in shares of CareDx in the 2nd quarter worth approximately $1,198,000. Finally, Janus Henderson Group PLC grew its position in CareDx by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock worth $5,495,000 after acquiring an additional 28,958 shares during the last quarter.

CareDx Company Profile

CareDx, Inc is a precision medicine company focused on improving outcomes for transplant patients. The company develops and commercializes diagnostic tests, monitoring solutions and digital health services designed to help clinicians assess organ health, identify potential rejection and support the long-term management of transplant recipients.

Its portfolio includes AlloMap, a gene-expression blood test used in heart-transplant monitoring, and AlloSure, a donor-derived cell-free DNA test used to assess kidney-transplant health.