BTIG Research Has Lowered Expectations for CareDx (NASDAQ:CDNA) Stock Price

CareDx (NASDAQ:CDNA) had its target price lowered by equities researchers at BTIG Research from $40.00 to $35.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 50.80% from the stock’s previous close.

Several other research firms have also recently commented on CDNA. Craig Hallum lifted their target price on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. The Goldman Sachs Group increased their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company began coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, CareDx currently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Stock Up 1.4 %

NASDAQ CDNA opened at $23.21 on Tuesday. CareDx has a fifty-two week low of $6.11 and a fifty-two week high of $34.84. The business has a fifty day moving average of $27.56 and a 200-day moving average of $20.97. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -8.60 and a beta of 1.80.

CareDx (NASDAQ:CDNA) last announced its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The firm had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. During the same quarter in the previous year, the company posted ($0.43) EPS. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, analysts anticipate that CareDx will post -0.83 EPS for the current year.

Insider Transactions at CareDx

In related news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter Maag sold 35,552 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,340 shares of company stock worth $3,025,415. 4.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares during the last quarter. Plato Investment Management Ltd bought a new stake in CareDx in the second quarter valued at $62,000. KBC Group NV bought a new stake in CareDx in the third quarter valued at $99,000. nVerses Capital LLC boosted its holdings in shares of CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after acquiring an additional 2,100 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of CareDx during the second quarter worth about $142,000.

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.