CareDx, Inc. (NASDAQ:CDNA) Receives Average Rating of "Hold" from Analysts

Key Points

• CareDx has an average analyst rating of “Hold” from six covering firms, with one sell, four holds, and one buy. The consensus 12-month price target is $25.00.
• Recent company filings show notable insider selling, including sales by Director Hannah Valantine and CEO John Walter Hanna, Jr. Over the last 90 days, insiders sold 89,218 shares worth about $2.31 million.
• The stock has risen to $29.11, near its 52-week high of $30.00, after a strong quarterly report that beat expectations on both earnings and revenue. CareDx posted EPS of $0.34 versus $0.11 expected, with revenue up 39.3% year over year.

Shares of CareDx, Inc. (NASDAQ:CDNA - Get Free Report) have earned an average rating of "Hold" from the six research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $25.00.

CDNA has been the subject of several research reports. Wall Street Zen raised shares of CareDx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. BTIG Research boosted their price objective on shares of CareDx from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of CareDx from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, June 26th.

Insider Transactions at CareDx

In related news, Director Hannah Valantine sold 12,103 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares in the company, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 89,218 shares of company stock worth $2,310,864. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. acquired a new stake in shares of CareDx in the third quarter valued at approximately $31,857,000. Braidwell LP bought a new position in CareDx in the third quarter valued at $31,738,000. Boston Partners grew its position in CareDx by 2,776.5% in the fourth quarter. Boston Partners now owns 901,929 shares of the company's stock valued at $16,994,000 after purchasing an additional 870,574 shares in the last quarter. Bamco Inc. NY increased its stake in CareDx by 29.5% in the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company's stock valued at $45,876,000 after buying an additional 719,523 shares during the last quarter. Finally, Aberdeen Group plc acquired a new stake in CareDx in the 4th quarter valued at $6,506,000.

CareDx Stock Performance

Shares of CDNA opened at $29.11 on Friday. The stock has a 50 day simple moving average of $23.82 and a 200 day simple moving average of $20.73. CareDx has a 52-week low of $10.96 and a 52-week high of $30.00. The firm has a market capitalization of $1.50 billion, a PE ratio of -181.94 and a beta of 2.43.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business had revenue of $117.70 million during the quarter, compared to analysts' expectations of $102.03 million. During the same period in the prior year, the business earned $0.09 EPS. CareDx's revenue for the quarter was up 39.3% compared to the same quarter last year. Equities research analysts predict that CareDx will post 0.22 EPS for the current fiscal year.

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.

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