CareDx (NASDAQ:CDNA) Stock Price Up 3.5%

CareDx, Inc (NASDAQ:CDNA) shot up 3.5% on Monday . The company traded as high as $23.87 and last traded at $23.68. 540,784 shares traded hands during trading, a decline of 39% from the average session volume of 890,562 shares. The stock had previously closed at $22.88.

Analyst Ratings Changes

Several equities analysts have recently commented on CDNA shares. Stephens increased their target price on CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Raymond James lowered shares of CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Thursday. Craig Hallum lifted their price target on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, CareDx presently has an average rating of “Moderate Buy” and an average price target of $22.00.

CareDx Price Performance

The stock’s fifty day simple moving average is $16.00 and its two-hundred day simple moving average is $12.22. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.69 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.18. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The firm had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. On average, sell-side analysts predict that CareDx, Inc will post -1.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDNA. Vanguard Group Inc. boosted its holdings in shares of CareDx by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after buying an additional 180,334 shares during the period. Bellevue Group AG raised its stake in CareDx by 0.4% during the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock valued at $47,458,000 after purchasing an additional 13,994 shares during the period. Gagnon Securities LLC lifted its holdings in shares of CareDx by 7.1% in the first quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock valued at $23,780,000 after purchasing an additional 149,485 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of CareDx in the first quarter worth $13,025,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of CareDx by 8.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock valued at $12,189,000 after buying an additional 92,363 shares in the last quarter.

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.