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

CareDx, Inc (NASDAQ:CDNA - Get Free Report) has received an average recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $30.33.

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

Insider Transactions at CareDx

In related news, Director Christine Cournoyer sold 29,136 shares of CareDx 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 sale, the director now owns 37,045 shares of the company's stock, valued at approximately $591,238.20. This trade represents a 44.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction that occurred 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 completion of the sale, the director now directly owns 53,979 shares in the company, valued at approximately $941,933.55. This represents a 35.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,382 shares of company stock valued at $1,458,009 over the last 90 days. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently bought and sold shares of CDNA. Invesco Ltd. increased its position in shares of CareDx by 76.1% during the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company's stock worth $47,355,000 after purchasing an additional 1,153,011 shares during the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of CareDx during the 4th quarter worth approximately $15,239,000. Chevy Chase Trust Holdings LLC bought a new stake in shares of CareDx during the 1st quarter worth approximately $9,502,000. Jacobs Levy Equity Management Inc. raised its stake in shares of CareDx by 52.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock worth $26,625,000 after purchasing an additional 428,864 shares in the last quarter. Finally, Bamco Inc. NY raised its stake in shares of CareDx by 17.6% during the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock worth $47,258,000 after purchasing an additional 330,627 shares in the last quarter.

CareDx Stock Performance

CDNA traded up $0.76 during midday trading on Thursday, reaching $19.52. 904,107 shares of the company were exchanged, compared to its average volume of 909,462. CareDx has a one year low of $13.18 and a one year high of $34.84. The stock has a market capitalization of $1.09 billion, a P/E ratio of -7.23 and a beta of 2.18. The stock's 50-day simple moving average is $17.32 and its 200 day simple moving average is $20.39.

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