CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Rating of “Hold” from Analysts

CareDx, Inc. (NASDAQ:CDNA) has received an average recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.6667.

Several research firms have weighed in on CDNA. Weiss Ratings lowered CareDx from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Craig Hallum reiterated a “hold” rating and issued a $35.00 price objective on shares of CareDx in a research report on Thursday. Finally, BTIG Research increased their price objective on shares of CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday.

Insider Transactions at CareDx

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction that occurred on 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 directly owned 661,959 shares in the company, valued at $19,355,681.16. The trade was a 5.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 company’s 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 completion of the sale, the director directly owned 36,686 shares in the company, 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 90 days, insiders have sold 78,936 shares of company stock valued at $2,093,708. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently bought and sold shares of CDNA. Deerfield Management Company L.P. purchased a new stake in shares of CareDx in the third quarter valued at $31,857,000. Braidwell LP purchased a new stake in CareDx during the 3rd quarter worth about $31,738,000. Boston Partners increased its position in CareDx by 2,776.5% during the 4th quarter. Boston Partners now owns 901,929 shares of the company’s stock worth $16,994,000 after purchasing an additional 870,574 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of CareDx by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after purchasing an additional 719,523 shares during the last quarter. Finally, Aberdeen Group plc acquired a new position in shares of CareDx in the fourth quarter valued at approximately $6,506,000.

CareDx Trading Up 35.6%

CDNA stock opened at $40.34 on Friday. The firm has a 50 day moving average of $24.85 and a 200-day moving average of $21.14. CareDx has a 12-month low of $10.96 and a 12-month high of $40.38. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -252.13 and a beta of 2.43.

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

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.