CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Recommendation of “Hold” from Analysts

CareDx, Inc. (NASDAQ:CDNA) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.3333.

A number of research analysts recently issued reports on the stock. Craig Hallum cut shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Tuesday, January 6th. Wells Fargo & Company boosted their target price on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Wall Street Zen lowered CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings downgraded CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th. Finally, BTIG Research increased their price objective on CareDx from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 25th.

Insider Buying and Selling

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the sale, the chief executive officer owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 29,636 shares of company stock valued at $625,949 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of CareDx during the fourth quarter worth about $25,000. FNY Investment Advisers LLC purchased a new stake in CareDx in the third quarter valued at approximately $31,000. State of Alaska Department of Revenue acquired a new stake in shares of CareDx in the third quarter valued at approximately $43,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx during the fourth quarter worth approximately $79,000. Finally, Quantbot Technologies LP acquired a new position in shares of CareDx in the 3rd quarter valued at $89,000.

CareDx Trading Up 5.7%

NASDAQ:CDNA opened at $17.36 on Wednesday. CareDx has a 12-month low of $10.96 and a 12-month high of $21.49. The firm has a market cap of $889.18 million, a PE ratio of -43.40 and a beta of 2.52. The stock has a fifty day moving average price of $18.83 and a 200 day moving average price of $17.60.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The company had revenue of $108.39 million during the quarter, compared to analyst estimates of $102.76 million. During the same period in the prior year, the business earned $0.18 EPS. CareDx’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities analysts forecast that CareDx will post -0.9 EPS for the current year.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.