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

CareDx, Inc (NASDAQ:CDNA) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $30.33.

Several analysts have commented on the stock. Wall Street Zen cut shares of CareDx from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. HC Wainwright restated a “neutral” rating and set a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research note on Monday, May 5th.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 13,281 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total value of $523,500.00. Following the completion of the transaction, the director now directly owns 53,979 shares in the company, valued at $941,933.55. This represents a 35.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,382 shares of company stock worth $1,458,009 in the last quarter. 4.90% of the stock is owned by insiders.

Institutional Trading of CareDx

Institutional investors have recently modified their holdings of the company. Swiss National Bank grew its holdings in shares of CareDx by 1.9% during the 4th quarter. Swiss National Bank now owns 98,600 shares of the company’s stock worth $2,111,000 after purchasing an additional 1,800 shares during the period. Barclays PLC grew its holdings in shares of CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company’s stock worth $3,075,000 after purchasing an additional 54,482 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of CareDx by 59.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company’s stock worth $7,008,000 after purchasing an additional 122,356 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of CareDx during the 4th quarter worth about $208,000. Finally, Nuveen Asset Management LLC grew its holdings in shares of CareDx by 15.5% during the 4th quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company’s stock worth $9,594,000 after purchasing an additional 60,050 shares during the period.

CareDx Stock Performance

CDNA stock opened at $19.30 on Thursday. The stock’s 50 day moving average price is $17.26 and its 200 day moving average price is $20.45. The firm has a market cap of $1.07 billion, a P/E ratio of -7.15 and a beta of 2.27. CareDx has a 1 year low of $13.18 and a 1 year high of $34.84.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, research analysts predict that CareDx will post -0.9 earnings per share for the current 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.