CareDx (NASDAQ:CDNA) Receives "Overweight" Rating from Stephens

CareDx (NASDAQ:CDNA - Get Free Report)'s stock had its "overweight" rating reissued by stock analysts at Stephens in a research note issued on Monday,Benzinga reports. They currently have a $40.00 price objective on the stock. Stephens' price target points to a potential upside of 170.82% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. HC Wainwright restated a "neutral" rating and set a $25.00 price objective on shares of CareDx in a report on Monday. The Goldman Sachs Group cut their price target on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CareDx presently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded up $0.59 during trading on Monday, reaching $14.77. The stock had a trading volume of 1,461,384 shares, compared to its average volume of 873,866. CareDx has a 52 week low of $9.99 and a 52 week high of $34.84. The firm's fifty day moving average is $18.08 and its 200 day moving average is $21.26. The stock has a market cap of $822.41 million, a price-to-earnings ratio of -5.47 and a beta of 2.27.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share 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 during the quarter, compared to the consensus estimate of $84.56 million. During the same period last year, the business posted ($0.03) EPS. The business's revenue was up 17.6% compared to the same quarter last year. On average, research analysts forecast that CareDx will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, Director Peter Maag sold 13,281 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On CareDx

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company's stock valued at $3,075,000 after purchasing an additional 54,482 shares during the last quarter. Franklin Resources Inc. boosted its holdings in CareDx by 34.4% during the 3rd quarter. Franklin Resources Inc. now owns 59,474 shares of the company's stock valued at $1,862,000 after acquiring an additional 15,238 shares during the period. Principal Financial Group Inc. bought a new position in CareDx during the 3rd quarter worth approximately $557,000. ARS Investment Partners LLC lifted its position in CareDx by 6.3% in the fourth quarter. ARS Investment Partners LLC now owns 101,968 shares of the company's stock valued at $2,183,000 after purchasing an additional 6,083 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of CareDx by 31.0% during the fourth quarter. SG Americas Securities LLC now owns 24,087 shares of the company's stock valued at $516,000 after purchasing an additional 5,706 shares during the period.

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.