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

Shares of CareDx, Inc (NASDAQ:CDNA) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages 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 analyst reports. BTIG Research lowered their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company initiated coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th.

CareDx Trading Down 2.7 %

Shares of NASDAQ CDNA opened at $22.86 on Thursday. The firm has a fifty day simple moving average of $24.48 and a two-hundred day simple moving average of $23.18. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The firm has a market capitalization of $1.23 billion, a PE ratio of -8.47 and a beta of 1.84.

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

Insider Transactions at CareDx

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CDNA. Renaissance Technologies LLC boosted its holdings in CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of CareDx by 868.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after buying an additional 183,823 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of CareDx in the 2nd quarter worth $2,852,000. Hanseatic Management Services Inc. purchased a new stake in CareDx during the third quarter valued at $781,000. Finally, Virtue Capital Management LLC bought a new position in CareDx in the third quarter valued at about $755,000.

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.