CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Moderate Buy” by Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several research analysts have recently issued reports on the company. Stephens restated an “overweight” rating and issued a $15.00 price target on shares of CareDx in a research report on Wednesday, April 17th. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in CareDx in the 4th quarter worth approximately $50,000. Nisa Investment Advisors LLC lifted its stake in shares of CareDx by 442.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after acquiring an additional 5,253 shares during the period. Quest Partners LLC acquired a new position in shares of CareDx during the fourth quarter valued at $117,000. WINTON GROUP Ltd bought a new stake in shares of CareDx in the third quarter worth about $72,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CareDx by 23.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company’s stock worth $82,000 after acquiring an additional 2,211 shares in the last quarter.

CareDx Trading Up 16.9 %

Shares of CDNA traded up $1.31 during mid-day trading on Wednesday, hitting $9.07. 863,171 shares of the company’s stock were exchanged, compared to its average volume of 881,947. The firm has a market capitalization of $469.64 million, a P/E ratio of -2.72 and a beta of 1.42. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $12.93. The business’s 50 day moving average is $9.60 and its two-hundred day moving average is $9.29.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, February 28th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.97). The firm had revenue of $65.57 million during the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. CareDx’s revenue was down 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. On average, equities research analysts forecast that CareDx will post -1.59 earnings per share for the current year.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.