Analysts Set CareDx, Inc (NASDAQ:CDNA) PT at $30.33

CareDx, Inc (NASDAQ:CDNA - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, 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 updated their coverage on the stock in the last year is $30.33.

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

CareDx Price Performance

Shares of CDNA stock traded up $0.76 on Thursday, hitting $19.52. The stock had a trading volume of 904,107 shares, compared to its average volume of 906,933. The business has a 50 day moving average of $17.28 and a 200 day moving average of $20.43. CareDx has a 12-month low of $13.18 and a 12-month high of $34.84. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -7.23 and a beta of 2.27.

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

Insider Transactions at CareDx

In other news, Director William A. Hagstrom sold 30,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $17.45, for a total value of $523,500.00. Following the completion of the transaction, the director now owns 53,979 shares in the company, valued at $941,933.55. The trade was a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christine Cournoyer sold 16,700 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total value of $235,971.00. Following the sale, the director now directly owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,382 shares of company stock valued at $1,458,009 in the last quarter. 4.90% of the stock is owned by insiders.

Institutional Trading of CareDx

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