Analysts Set CareDx, Inc. (NASDAQ:CDNA) Price Target at $25.50

Key Points

• CareDx, Inc. has received an average rating of "Moderate Buy" from seven brokerage firms, with a consensus price target of $25.50.
• In recent transactions, Director Hannah Valantine sold 10,570 shares of company stock, indicating a 21.33% decrease in ownership.
• The company's latest quarterly earnings report showed a loss of ($0.16) EPS, missing estimates and reflecting a 6.1% decrease in revenue year-over-year.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $25.50.

Several brokerages recently issued reports on CDNA. William Blair began coverage on CareDx in a research note on Tuesday, August 26th. They issued a "market perform" rating for the company. BTIG Research reissued a "buy" rating and issued a $22.00 price objective on shares of CareDx in a research note on Friday, September 12th. Craig Hallum reduced their price objective on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company reduced their price objective on CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $18.58, for a total value of $185,800.00. Following the transaction, the director directly owned 308,846 shares of the company's stock, valued at $5,738,358.68. This represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CDNA. Northern Trust Corp increased its position in CareDx by 7.5% in the 4th quarter. Northern Trust Corp now owns 485,789 shares of the company's stock worth $10,401,000 after purchasing an additional 33,788 shares during the last quarter. Ameriprise Financial Inc. increased its position in CareDx by 15.8% in the 4th quarter. Ameriprise Financial Inc. now owns 279,309 shares of the company's stock worth $5,980,000 after purchasing an additional 38,101 shares during the last quarter. BNP Paribas Financial Markets increased its position in CareDx by 29.8% in the 4th quarter. BNP Paribas Financial Markets now owns 64,141 shares of the company's stock worth $1,373,000 after purchasing an additional 14,721 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CareDx by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,440 shares of the company's stock worth $2,406,000 after purchasing an additional 4,897 shares during the last quarter. Finally, Millennium Management LLC increased its position in CareDx by 37.8% in the 4th quarter. Millennium Management LLC now owns 621,307 shares of the company's stock worth $13,302,000 after purchasing an additional 170,568 shares during the last quarter.

CareDx Stock Up 3.3%

Shares of NASDAQ CDNA traded up $0.47 during mid-day trading on Friday, hitting $14.77. 1,674,926 shares of the company traded hands, compared to its average volume of 1,429,915. CareDx has a 1 year low of $10.96 and a 1 year high of $32.97. The stock has a market capitalization of $786.21 million, a price-to-earnings ratio of 14.48 and a beta of 2.28. The business has a 50 day moving average of $13.41 and a two-hundred day moving average of $16.51.

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

CareDx Company Profile

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.