CareDx, Inc. (NASDAQ:CDNA) Given Average Rating of "Hold" by Brokerages

Key Points

• Eight brokerages give CareDx a consensus rating of Hold (1 sell, 5 hold, 2 buy) with an average 12‑month price target of $27.60.
• CareDx's latest quarter showed an EPS miss (reported $0.12 vs. $0.24 est.) but revenue beat at $108.39M (+25.2% YoY); the company still has a negative net margin and analysts forecast −0.14 EPS for the year.
• Several institutions have recently added or sharply increased stakes (e.g., Deerfield and Braidwell ~ $31.7M each; Boston Partners boosted holdings >2,700%), while CEO John W. Hanna Jr. sold 10,282 shares under a pre‑arranged Rule 10b5‑1 plan.

Shares of CareDx, Inc. (NASDAQ:CDNA - Get Free Report) have received a consensus rating of "Hold" from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $27.60.

Several equities research analysts recently issued reports on CDNA shares. BTIG Research raised their target price on shares of CareDx from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Wells Fargo & Company raised their target price on shares of CareDx from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of CareDx from a "hold" rating to a "buy" rating in a report on Saturday. Craig Hallum cut shares of CareDx from a "buy" rating to a "hold" rating and set a $26.00 target price on the stock. in a report on Tuesday, January 6th. Finally, Weiss Ratings cut shares of CareDx from a "hold (c-)" rating to a "sell (d)" rating in a report on Friday, February 27th.

CareDx Stock Up 5.8%

Shares of CDNA opened at $21.23 on Friday. The company has a market capitalization of $1.09 billion, a P/E ratio of -53.08 and a beta of 2.54. The firm has a 50 day moving average of $18.39 and a 200 day moving average of $18.10. CareDx has a twelve month low of $10.96 and a twelve month high of $23.24.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.12). The firm had revenue of $108.39 million for the quarter, compared to the consensus estimate of $102.76 million. CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. CareDx's revenue was up 25.2% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. On average, sell-side analysts expect that CareDx will post -0.14 EPS for the current year.

Insider Transactions at CareDx

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $21.12, for a total value of $217,155.84. Following the sale, the chief executive officer owned 676,475 shares in the company, valued at approximately $14,287,152. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDNA. Deerfield Management Company L.P. purchased a new stake in CareDx in the third quarter worth approximately $31,857,000. Braidwell LP purchased a new position in shares of CareDx during the 3rd quarter worth $31,738,000. Boston Partners boosted its stake in shares of CareDx by 2,776.5% during the 4th quarter. Boston Partners now owns 901,929 shares of the company's stock worth $16,994,000 after acquiring an additional 870,574 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of CareDx by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company's stock worth $45,876,000 after acquiring an additional 719,523 shares during the last quarter. Finally, Amova Asset Management Americas Inc. boosted its stake in shares of CareDx by 40.8% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company's stock worth $25,283,000 after acquiring an additional 504,473 shares during the last quarter.

About CareDx

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.