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

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $30.33.

A number of research firms recently commented on CDNA. The Goldman Sachs Group lowered their target price on shares of CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of CareDx in a report on Monday, May 5th. Finally, HC Wainwright restated a “neutral” rating and issued a $25.00 target price on shares of CareDx in a research report on Monday, May 5th.

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of CareDx stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total transaction of $235,971.00. Following the completion of the sale, the director now directly owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Maag sold 13,281 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,382 shares of company stock valued at $934,509 over the last ninety days. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after acquiring an additional 1,126 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of CareDx by 20,200.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company’s stock valued at $79,000 after purchasing an additional 4,444 shares during the period. Tower Research Capital LLC TRC increased its stake in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after buying an additional 3,322 shares during the period. State of Wyoming acquired a new stake in CareDx during the 4th quarter worth approximately $91,000. Finally, Morse Asset Management Inc purchased a new position in CareDx in the 1st quarter valued at approximately $103,000.

CareDx Stock Performance

NASDAQ:CDNA opened at $16.10 on Friday. The firm has a market cap of $896.46 million, a P/E ratio of -5.96 and a beta of 2.27. The firm has a 50-day simple moving average of $17.64 and a 200-day simple moving average of $20.97. CareDx has a one year low of $12.90 and a one year high of $34.84.

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