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

CareDx (NASDAQ:CDNA - Free Report) had its price objective decreased by Craig Hallum from $40.00 to $26.00 in a report published on Friday,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

CDNA has been the topic of several other reports. Stephens reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price target on shares of CareDx in a research note on Monday, May 5th. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.33.

CareDx Stock Up 0.8%

CDNA stock traded up $0.10 during midday trading on Friday, reaching $11.91. The company's stock had a trading volume of 5,721,967 shares, compared to its average volume of 1,010,679. CareDx has a 52 week low of $10.96 and a 52 week high of $34.84. The stock has a market cap of $663.16 million, a PE ratio of 10.36 and a beta of 2.19. The business's 50-day simple moving average is $18.23 and its 200-day simple moving average is $19.53.

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

Insider Buying and Selling at CareDx

In other news, Director William A. Hagstrom sold 30,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the sale, the director directly owned 53,979 shares in the company, valued at $941,933.55. This represents a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the sale, the director owned 37,045 shares of the company's stock, valued at approximately $591,238.20. This trade represents a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 139,078 shares of company stock valued at $2,419,915. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in CareDx during the first quarter worth $375,000. Swiss National Bank boosted its stake in CareDx by 1.9% during the fourth quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after acquiring an additional 1,800 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in CareDx during the fourth quarter worth $208,000. Nuveen Asset Management LLC boosted its stake in CareDx by 15.5% during the fourth quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company's stock worth $9,594,000 after acquiring an additional 60,050 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in CareDx during the fourth quarter worth $3,694,000.

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.