CareDx, Inc. (NASDAQ:CDNA) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of CareDx, Inc. (NASDAQ:CDNA) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $54.00.

A number of research analysts recently weighed in on CDNA shares. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, August 3rd. Zacks Research raised CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, William Blair upgraded CareDx to a “hold” rating in a research note on Thursday, July 16th.

Insider Transactions at CareDx

In other news, Director George Bickerstaff, III sold 20,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the sale, the director directly owned 134,061 shares of the company’s stock, valued at approximately $6,204,343.08. This represents a 12.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christine Cournoyer sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the transaction, the director owned 42,943 shares of the company’s stock, valued at $2,015,744.42. This trade represents a 27.14% 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. 2.40% of the stock is owned by insiders.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. BlackRock Inc. purchased a new position in CareDx during the second quarter worth about $137,219,000. Bamco Inc. NY purchased a new stake in shares of CareDx in the 2nd quarter valued at about $55,214,000. Bank of America Corp DE purchased a new stake in shares of CareDx in the 2nd quarter valued at about $16,297,000. Palo Alto Investors LP bought a new stake in shares of CareDx during the 2nd quarter valued at about $15,158,295. Finally, Jupiter Topco LLC bought a new stake in shares of CareDx during the 2nd quarter valued at about $9,673,000.

CareDx Stock Performance

Shares of CDNA opened at $63.68 on Wednesday. CareDx has a fifty-two week low of $13.95 and a fifty-two week high of $65.19. The business has a 50-day moving average of $47.78 and a 200 day moving average of $31.24. The firm has a market cap of $3.29 billion, a P/E ratio of 30.76 and a beta of 2.43.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The company’s revenue was up 52.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, research analysts predict that CareDx will post 0.47 earnings per share for the current fiscal year.

About CareDx

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.