CareDx (NASDAQ:CDNA) Reaches New 1-Year High - Here's Why

Key Points

• CareDx hit a new 52-week high intraday at $22.38 and last traded around $20.48, up from a prior close of $17.57 on volume of about 612,050 shares.
• Analyst views are mixed: MarketBeat shows a consensus "Hold" with a $27.33 target, while recent notes include downgrades from Craig Hallum and Weiss and price-target increases from Wells Fargo and BTIG.
• In the latest quarter CareDx missed EPS ($0.12 vs. $0.24 est.) but beat revenue ($108.4M vs. $102.8M), with revenue up 25% YoY and a negative net margin (-5.65%); analysts expect about -0.9 EPS for the fiscal year.

CareDx, Inc. (NASDAQ:CDNA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.38 and last traded at $20.4840, with a volume of 612050 shares traded. The stock had previously closed at $17.57.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CDNA shares. Craig Hallum downgraded CareDx from a "buy" rating to a "hold" rating and set a $26.00 price target for the company. in a report on Tuesday, January 6th. Wells Fargo & Company upped their price target on CareDx from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 25th. BTIG Research upped their price target on CareDx from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Weiss Ratings downgraded CareDx from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, February 27th. Finally, Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.33.

CareDx Stock Performance

The stock has a market cap of $1.11 billion, a P/E ratio of -54.37 and a beta of 2.54. The business has a 50 day simple moving average of $18.17 and a 200-day simple moving average of $17.79.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.12). The business had revenue of $108.39 million during the quarter, compared to the consensus estimate of $102.76 million. CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The firm's revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. On average, sell-side analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at CareDx

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the company's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the transaction, the chief executive officer owned 597,405 shares of the company's stock, valued at $12,641,089.80. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new position in shares of CareDx during the 4th quarter valued at $314,000. Invesco Ltd. lifted its position in shares of CareDx by 5.2% during the 4th quarter. Invesco Ltd. now owns 115,503 shares of the company's stock valued at $2,176,000 after buying an additional 5,758 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new position in shares of CareDx during the 4th quarter valued at $509,000. Man Group plc lifted its position in shares of CareDx by 51.3% during the 4th quarter. Man Group plc now owns 233,171 shares of the company's stock valued at $4,393,000 after buying an additional 79,009 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of CareDx by 1,213.1% during the 4th quarter. Janus Henderson Group PLC now owns 287,561 shares of the company's stock valued at $5,418,000 after buying an additional 265,661 shares during the last quarter.

CareDx Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.