Brokerages Set CareDx, Inc (NASDAQ:CDNA) PT at $29.60

CareDx, Inc (NASDAQ:CDNA) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $29.60.

CDNA has been the subject of a number of research reports. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, BTIG Research cut their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

Several large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in CareDx in the 3rd quarter valued at $27,000. Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx during the third quarter worth about $52,000. KBC Group NV purchased a new position in CareDx during the third quarter worth about $99,000. nVerses Capital LLC lifted its position in CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after purchasing an additional 2,100 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in CareDx in the 2nd quarter valued at approximately $62,000.

CareDx Stock Up 5.6 %

Shares of NASDAQ CDNA opened at $24.00 on Monday. The business’s 50 day moving average is $22.89 and its two-hundred day moving average is $24.12. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -8.89 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last posted its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. The firm had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. Analysts anticipate that CareDx will post -0.7 EPS for the current fiscal year.

About CareDx

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.