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

Shares of CareDx, Inc. (NASDAQ:CDNA) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

Several brokerages have recently issued reports on CDNA. BTIG Research lifted their target price on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a report on Tuesday, January 6th. Wells Fargo & Company lifted their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th.

CareDx Stock Performance

Shares of CareDx stock opened at $20.81 on Friday. CareDx has a one year low of $10.96 and a one year high of $23.24. The stock’s fifty day moving average is $18.52 and its 200 day moving average is $18.26. The stock has a market cap of $1.08 billion, a P/E ratio of -130.06 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 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 analysts’ expectations of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business’s quarterly revenue was up 39.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Analysts predict that CareDx will post -0.14 EPS for the current year.

Insider Activity

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 completion of the transaction, the chief executive officer owned 676,475 shares in the company, 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 at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is owned by company insiders.

Institutional Trading of CareDx

A number of large investors have recently modified their holdings of CDNA. Bamco Inc. NY raised its stake 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 in the last quarter. State Street Corp raised its stake in CareDx by 6.7% in 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 in the last quarter. Deerfield Management Company L.P. bought a new position in CareDx in the third quarter worth approximately $31,857,000. Braidwell LP bought a new position in CareDx in the third quarter worth approximately $31,738,000. Finally, ARK Investment Management LLC raised its stake in CareDx by 3.4% in 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 in 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.