CareDx (NASDAQ:CDNA) Reaches New 1-Year High – Time to Buy?

CareDx, Inc. (NASDAQ:CDNA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.19 and last traded at $49.5460, with a volume of 609071 shares changing hands. The stock had previously closed at $47.50.

Analysts Set New Price Targets

Several research firms recently weighed in on CDNA. BTIG Research upped their price objective on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. 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 shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, August 3rd. Finally, William Blair raised shares of CareDx to a “hold” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and an average target price of $47.75.

CareDx Trading Up 0.3%

The business has a fifty day moving average price of $37.41 and a 200-day moving average price of $26.04. The stock has a market capitalization of $2.64 billion, a PE ratio of 24.62 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. The firm had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company’s revenue was up 52.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) EPS. On average, equities analysts anticipate that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of CareDx stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the transaction, the director directly owned 134,061 shares in the company, valued at $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 114,936 shares of company stock valued at $3,770,348 over the last ninety days. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On CareDx

Large investors have recently added to or reduced their stakes in the business. Globeflex Capital L P boosted its stake in shares of CareDx by 49.4% during the first quarter. Globeflex Capital L P now owns 119,252 shares of the company’s stock valued at $2,070,000 after purchasing an additional 39,457 shares during the period. Janus Henderson Group PLC increased its stake in shares of CareDx by 10.1% in the first quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock worth $5,495,000 after buying an additional 28,958 shares during the period. Virtus Advisers LLC purchased a new position in shares of CareDx in the second quarter worth $1,198,000. Fidelis Capital Partners LLC bought a new stake in CareDx during the 4th quarter valued at $420,000. Finally, Renaissance Technologies LLC raised its holdings in CareDx by 7.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock valued at $20,561,000 after buying an additional 79,200 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.