Craig Hallum Has Lowered Expectations for CareDx (NASDAQ:CDNA) Stock Price

CareDx (NASDAQ:CDNA - Free Report) had its target price cut by Craig Hallum from $40.00 to $26.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

CDNA has been the subject of several other research reports. 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 objective on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group reduced 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 reaffirmed an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, CareDx has a consensus rating of "Moderate Buy" and a consensus target price of $29.33.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded up $0.92 during mid-day trading on Friday, reaching $12.84. 2,465,172 shares of the company's stock were exchanged, compared to its average volume of 1,018,886. The firm has a market capitalization of $714.93 million, a price-to-earnings ratio of 11.16 and a beta of 2.19. The business's fifty day moving average price is $18.23 and its 200-day moving average price is $19.51. CareDx has a twelve month low of $10.96 and a twelve month high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its 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. CareDx had a net margin of 19.79% and a return on equity of 21.16%. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The company's revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts predict that CareDx will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, Director Hannah Valantine sold 10,570 shares of CareDx stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total transaction of $202,521.20. Following the transaction, the director owned 38,994 shares in the company, valued at approximately $747,125.04. The trade was a 21.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Maag sold 13,281 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, 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 quarter, insiders have sold 139,078 shares of company stock worth $2,419,915. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC grew its holdings in CareDx by 292.9% during the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the last quarter. Voya Investment Management LLC increased its position in shares of CareDx by 12.8% during the first quarter. Voya Investment Management LLC now owns 24,400 shares of the company's stock worth $433,000 after acquiring an additional 2,761 shares during the period. Strs Ohio bought a new stake in shares of CareDx during the first quarter valued at approximately $462,000. Acadian Asset Management LLC boosted its holdings in shares of CareDx by 6.1% in the first quarter. Acadian Asset Management LLC now owns 359,303 shares of the company's stock valued at $6,373,000 after purchasing an additional 20,806 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of CareDx by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company's stock valued at $2,378,000 after purchasing an additional 13,619 shares during the period.

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.