CareDx (NASDAQ:CDNA) Reaches New 52-Week High – What’s Next?

CareDx, Inc. (NASDAQ:CDNA)’s stock price reached a new 52-week high on Thursday . The company traded as high as $35.50 and last traded at $36.5450, with a volume of 137228 shares changing hands. The stock had previously closed at $29.75.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Weiss Ratings raised CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Finally, BTIG Research raised their price objective on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

CareDx Price Performance

The firm’s 50-day moving average is $24.47 and its 200 day moving average is $20.99. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -226.63 and a beta of 2.43.

CareDx (NASDAQ:CDNA) last posted 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 net margin of 2.01% and a negative return on equity of 2.65%. The company had revenue of $117.70 million for the quarter, compared to the consensus estimate of $102.03 million. During the same quarter last year, the firm posted $0.09 earnings per share. CareDx’s revenue was up 39.3% on a year-over-year basis. On average, sell-side analysts forecast that CareDx, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the sale, the director owned 36,686 shares of the company’s stock, valued at $847,813.46. This represents a 24.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 78,936 shares of company stock worth $2,093,708 in the last quarter. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CDNA. Quarry LP purchased a new stake in CareDx during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in shares of CareDx in the third quarter worth $31,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the 4th quarter valued at $79,000. Quantbot Technologies LP purchased a new position in shares of CareDx in the 3rd quarter valued at $89,000. Finally, CWM LLC lifted its holdings in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after acquiring an additional 4,026 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.