CareDx, Inc (NASDAQ:CDNA) Given Consensus Recommendation of “Moderate Buy” by Analysts

CareDx, Inc (NASDAQ:CDNA) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $28.33.

A number of research firms have weighed in on CDNA. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 target price on shares of CareDx in a report on Tuesday, January 14th. The Goldman Sachs Group raised their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, BTIG Research dropped their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

Insider Transactions at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently made changes to their positions in CDNA. Quarry LP bought a new stake in CareDx in the third quarter worth $27,000. Thompson Davis & CO. Inc. increased its holdings in shares of CareDx by 6.3% in the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company’s stock worth $344,000 after buying an additional 950 shares during the period. Royce & Associates LP lifted its stake in shares of CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after acquiring an additional 1,000 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in CareDx by 6.5% during the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company’s stock valued at $406,000 after acquiring an additional 1,151 shares during the period. Finally, Rhumbline Advisers grew its position in CareDx by 1.8% during the 4th quarter. Rhumbline Advisers now owns 81,201 shares of the company’s stock worth $1,738,000 after acquiring an additional 1,451 shares during the last quarter.

CareDx Trading Down 0.9 %

CareDx stock opened at $23.10 on Friday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -8.56 and a beta of 1.87. The firm has a 50 day simple moving average of $22.91 and a 200 day simple moving average of $25.14. CareDx has a 1-year low of $7.42 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.43) earnings per share. On average, equities research analysts forecast that CareDx will post -0.9 EPS for the current year.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.