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

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.83.

CDNA has been the subject of several recent analyst reports. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. HC Wainwright cut their target price on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th.

CareDx Stock Up 2.2 %

Shares of CareDx stock opened at $19.32 on Friday. The firm has a market cap of $1.07 billion, a PE ratio of -7.16 and a beta of 1.95. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84. The business has a 50-day moving average price of $21.79 and a 200 day moving average price of $23.99.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.05 by $1.46. The company had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. On average, sell-side analysts expect that CareDx will post -0.9 EPS for the current year.

Hedge Funds Weigh In On CareDx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock valued at $104,047,000 after acquiring an additional 323,554 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of CareDx by 17.6% in the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after purchasing an additional 330,627 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of CareDx by 7.3% in the fourth quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company’s stock valued at $34,556,000 after purchasing an additional 110,471 shares during the last quarter. Invesco Ltd. lifted its position in CareDx by 3.5% during the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company’s stock worth $32,433,000 after buying an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in CareDx by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company’s stock worth $30,663,000 after buying an additional 196,298 shares during the last quarter.

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.