CareDx (NASDAQ:CDNA) Sets New 1-Year High – What’s Next?

CareDx, Inc. (NASDAQ:CDNA)’s share price hit a new 52-week high on Monday . The stock traded as high as $29.49 and last traded at $29.17, with a volume of 30497 shares changing hands. The stock had previously closed at $28.82.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. BTIG Research upped their price objective on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

CareDx Trading Up 2.4%

The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -184.61 and a beta of 2.49. The firm has a 50-day moving average price of $22.46 and a 200-day moving average price of $20.15.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $102.03 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s revenue was up 39.3% on a year-over-year basis. Equities research analysts predict that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Insider Transactions at CareDx

In other news, CEO John Walter Hanna, Jr. sold 21,998 shares of CareDx stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $24.02, for a total value of $528,391.96. Following the transaction, the chief executive officer owned 649,642 shares of the company’s stock, valued at $15,604,400.84. The trade was a 3.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, the director owned 36,686 shares in the company, valued at $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. 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. Insiders sold a total of 49,218 shares of company stock valued at $1,141,288 over the last three months. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of CareDx

A number of large investors have recently added to or reduced their stakes in CDNA. Bamco Inc. NY grew its position in CareDx by 29.5% in 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 holdings in shares of CareDx by 6.7% in the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock valued at $51,579,000 after buying an additional 171,303 shares in the last quarter. Deerfield Management Company L.P. acquired a new stake in shares of CareDx during the 3rd quarter valued at $31,857,000. Braidwell LP acquired a new stake in shares of CareDx during the 3rd quarter valued at $31,738,000. Finally, ARK Investment Management LLC boosted its stake in shares of CareDx by 3.4% during the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after acquiring an additional 70,468 shares in the last quarter.

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.