CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Hold” by Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.60.

CDNA has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research decreased their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company initiated coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th.

CareDx Stock Performance

CareDx stock opened at $22.87 on Thursday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -8.47 and a beta of 1.84. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The stock’s fifty day moving average is $24.48 and its two-hundred day moving average is $23.24.

CareDx (NASDAQ:CDNA) last posted 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. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. As a group, sell-side analysts forecast that CareDx will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CareDx

Large investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of CareDx in the 3rd quarter worth about $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx in the 3rd quarter worth about $52,000. Plato Investment Management Ltd purchased a new position in shares of CareDx in the 2nd quarter worth about $62,000. KBC Group NV purchased a new position in shares of CareDx in the 3rd quarter worth about $99,000. Finally, nVerses Capital LLC raised its holdings in shares of CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after purchasing an additional 2,100 shares during the period.

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.