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

CareDx, Inc (NASDAQ:CDNA) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $28.33.

Several research firms recently commented on CDNA. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reiterated a “neutral” rating and issued a $26.00 price target on shares of CareDx in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, BTIG Research decreased their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

Insider Activity

In related news, Director Peter Maag sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several large investors have recently added to or reduced their stakes in CDNA. Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 868.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after purchasing an additional 183,823 shares in the last quarter. Virtue Capital Management LLC bought a new position in shares of CareDx in the third quarter worth about $755,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of CareDx during the third quarter worth about $1,671,000. Geode Capital Management LLC raised its stake in CareDx by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after purchasing an additional 32,141 shares during the period. Finally, Hanseatic Management Services Inc. purchased a new position in CareDx in the 3rd quarter worth approximately $781,000.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $22.70 on Friday. The firm’s 50 day moving average price is $22.89 and its 200-day moving average price is $25.13. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The company has a market cap of $1.22 billion, a PE ratio of -8.41 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last issued its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million for the quarter, compared to the consensus estimate of $80.04 million. During the same period last year, the business posted ($0.43) EPS. The company’s revenue was up 23.4% compared to the same quarter last year. On average, analysts forecast that CareDx will post -0.9 earnings per share 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.