Analysts Set CareDx, Inc. (NASDAQ:CDNA) Target Price at $25.00

Shares of CareDx, Inc. (NASDAQ:CDNA) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $25.00.

Several research analysts recently issued reports on CDNA shares. BTIG Research increased their price target on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. Wells Fargo & Company increased their price target 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. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $26.18 on Monday. CareDx has a 12 month low of $10.96 and a 12 month high of $26.26. The firm has a market capitalization of $1.35 billion, a PE ratio of -163.63 and a beta of 2.49. The firm has a fifty day simple moving average of $21.47 and a two-hundred day simple moving average of $19.86.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.23. The company had revenue of $117.70 million during the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. CareDx’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. On average, sell-side analysts predict that CareDx will post 0.22 earnings per share for the current year.

Insider Activity

In related news, CEO John Walter Hanna, Jr. sold 21,998 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $24.02, for a total value of $528,391.96. Following the completion of the transaction, the chief executive officer directly owned 649,642 shares in the company, valued at $15,604,400.84. This trade represents a 3.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the sale, the director owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. This represents a 24.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 49,218 shares of company stock valued at $1,141,288. 2.40% of the stock is owned by company insiders.

Institutional Trading of CareDx

A number of institutional investors and hedge funds have recently bought and sold shares of CDNA. Goldman Sachs Group Inc. increased its stake in CareDx by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock valued at $19,703,000 after purchasing an additional 170,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CareDx by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock valued at $2,378,000 after purchasing an additional 13,619 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CareDx by 41.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock valued at $1,340,000 after purchasing an additional 20,028 shares in the last quarter. First Trust Advisors LP bought a new stake in CareDx during the 2nd quarter valued at about $1,822,000. Finally, Nebula Research & Development LLC bought a new stake in CareDx during the 2nd quarter valued at about $281,000.

CareDx Company Profile

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.