CareDx, Inc. (NASDAQ:CDNA) Given Consensus Rating of “Hold” by Brokerages

Shares of CareDx, Inc. (NASDAQ:CDNA) have been given an average recommendation of “Hold” by the six research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.00.

CDNA has been the topic of a number of recent research reports. BTIG Research lifted their target price on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Finally, Wells Fargo & Company lifted their target price on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th.

CareDx Stock Performance

NASDAQ:CDNA opened at $22.16 on Thursday. The stock’s 50-day simple moving average is $19.54 and its 200 day simple moving average is $19.07. The company has a market cap of $1.14 billion, a P/E ratio of -138.50 and a beta of 2.49. CareDx has a 52-week low of $10.96 and a 52-week high of $23.24.

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

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 10,282 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $21.12, for a total transaction of $217,155.84. Following the transaction, the chief executive officer owned 676,475 shares of the company’s stock, valued at $14,287,152. The trade was a 1.50% decrease in their ownership of the stock. 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. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

A number of institutional investors have recently bought and sold shares of the business. Bamco Inc. NY increased its position in CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after buying an additional 719,523 shares during the last quarter. State Street Corp increased its position in CareDx by 6.7% during the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock worth $51,579,000 after buying an additional 171,303 shares during the last quarter. Deerfield Management Company L.P. acquired a new position in CareDx during the third quarter worth approximately $31,857,000. Braidwell LP acquired a new position in CareDx during the third quarter worth approximately $31,738,000. Finally, ARK Investment Management LLC increased its position in 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 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.