CareDx (NASDAQ:CDNA) Price Target Increased to $35.00 by Analysts at The Goldman Sachs Group

CareDx (NASDAQ:CDNA) had its target price upped by The Goldman Sachs Group from $26.00 to $35.00 in a report released on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts also recently issued reports on CDNA. BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, August 19th. StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Craig Hallum lifted their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company began coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. Finally, HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CareDx presently has an average rating of “Hold” and a consensus target price of $30.60.

CareDx Stock Down 0.6 %

CDNA stock opened at $26.18 on Wednesday. The firm has a market cap of $1.36 billion, a PE ratio of -7.65 and a beta of 1.77. The business has a 50 day moving average of $29.74 and a 200-day moving average of $19.51. CareDx has a 12-month low of $4.80 and a 12-month high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The business had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million. On average, research analysts expect that CareDx will post -0.84 earnings per share for the current year.

Insider Transactions at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Maag sold 35,552 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 over the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC increased its position in shares of CareDx by 9.2% in the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock worth $2,743,000 after purchasing an additional 21,892 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after buying an additional 18,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CareDx by 87.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after buying an additional 106,660 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of CareDx during the 1st quarter valued at $238,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of CareDx by 35.0% during the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock worth $1,294,000 after acquiring an additional 31,667 shares during 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.