CareDx, Inc. (NASDAQ:CDNA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

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CareDx, Inc. (NASDAQ:CDNA - Get Free Report) has received an average rating of "Moderate Buy" from the six analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $27.6667.

Several brokerages recently issued reports on CDNA. Wells Fargo & Company cut their price target on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 target price on shares of CareDx in a research note on Monday, May 5th. Stephens reaffirmed an "overweight" rating and set a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Finally, Craig Hallum cut their target price on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, July 18th.

CareDx Trading Up 0.1%

Shares of NASDAQ CDNA opened at $11.85 on Tuesday. The company has a market cap of $630.74 million, a price-to-earnings ratio of 11.62 and a beta of 2.22. CareDx has a 12-month low of $10.96 and a 12-month high of $34.84. The stock's 50 day simple moving average is $16.15 and its 200 day simple moving average is $17.98.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.28). The company had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%. The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. As a group, equities analysts forecast that CareDx will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter Maag sold 10,000 shares of CareDx stock in a transaction on Monday, July 7th. The stock was sold at an average price of $18.58, for a total transaction of $185,800.00. Following the transaction, the director directly owned 308,846 shares in the company, valued at approximately $5,738,358.68. This trade represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total value of $523,500.00. Following the transaction, the director owned 53,979 shares in the company, valued at approximately $941,933.55. This trade represents a 35.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,961 shares of company stock worth $1,490,102. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On CareDx

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in shares of CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company's stock worth $47,355,000 after acquiring an additional 1,153,011 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of CareDx by 11.2% in the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company's stock worth $47,593,000 after acquiring an additional 245,651 shares during the last quarter. Ophir Asset Management Pty Ltd grew its holdings in shares of CareDx by 17.0% in the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company's stock worth $36,989,000 after acquiring an additional 274,625 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company's stock worth $34,507,000 after acquiring an additional 182,025 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock worth $34,556,000 after acquiring an additional 110,471 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.

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