Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $30.33

CareDx, Inc (NASDAQ:CDNA - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are presently 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 price objective among analysts that have updated their coverage on the stock in the last year is $30.33.

A number of analysts have recently issued reports on CDNA shares. HC Wainwright restated a "neutral" rating and set a $25.00 price target on shares of CareDx in a report on Monday, May 5th. StockNews.com cut shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group decreased their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Stephens reissued an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research report on Monday, May 5th.

CareDx Price Performance

NASDAQ:CDNA traded up $0.21 during mid-day trading on Friday, hitting $16.23. The company's stock had a trading volume of 251,704 shares, compared to its average volume of 872,455. The business's fifty day moving average is $17.68 and its two-hundred day moving average is $21.02. CareDx has a 1 year low of $12.90 and a 1 year high of $34.84. The stock has a market cap of $903.42 million, a price-to-earnings ratio of -6.00 and a beta of 2.27.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. CareDx's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the company posted ($0.03) EPS. Analysts anticipate that CareDx will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total transaction of $235,971.00. Following the transaction, the director now directly owns 37,045 shares in the company, valued at approximately $523,445.85. This represents a 31.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 13,281 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,382 shares of company stock worth $934,509 in the last ninety days. 4.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of CareDx by 3.4% during the first quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after buying an additional 640 shares during the period. Sei Investments Co. raised its stake in CareDx by 1.7% during the first quarter. Sei Investments Co. now owns 47,921 shares of the company's stock worth $851,000 after purchasing an additional 816 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in CareDx by 3.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock worth $425,000 after purchasing an additional 900 shares during the period. Thompson Davis & CO. Inc. raised its stake in CareDx by 6.3% during the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock worth $344,000 after purchasing an additional 950 shares during the period. Finally, Hsbc Holdings PLC raised its stake in CareDx by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock worth $365,000 after purchasing an additional 1,109 shares during the period.

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.