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

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $30.33.

Several equities research analysts recently issued reports on CDNA shares. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Stephens restated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a report on Monday, May 5th.

CareDx Trading Down 1.5%

Shares of NASDAQ CDNA traded down $0.30 during midday trading on Monday, reaching $19.20. The company's stock had a trading volume of 309,715 shares, compared to its average volume of 915,305. CareDx has a one year low of $14.09 and a one year high of $34.84. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 16.69 and a beta of 2.19. The company has a 50 day moving average price of $17.76 and a 200 day moving average price of $19.78.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. CareDx had a net margin of 19.79% and a return on equity of 21.16%. The firm's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. Research analysts anticipate that CareDx will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christine Cournoyer sold 29,136 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.96, for a total value of $465,010.56. Following the completion of the sale, the director directly owned 37,045 shares of the company's stock, valued at approximately $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Maag sold 13,281 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the transaction, the director owned 316,743 shares in the company, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,343 shares of company stock valued at $2,238,811. Company insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after acquiring an additional 1,126 shares during the period. PNC Financial Services Group Inc. lifted its stake in CareDx by 20,200.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after purchasing an additional 4,444 shares during the period. Tower Research Capital LLC TRC lifted its stake in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after purchasing an additional 3,322 shares during the period. State of Wyoming bought a new stake in shares of CareDx in the 4th quarter valued at approximately $91,000. Finally, Morse Asset Management Inc acquired a new position in shares of CareDx in the 1st quarter worth approximately $103,000.

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.