Stephens Reaffirms Overweight Rating for CareDx (NASDAQ:CDNA)

CareDx (NASDAQ:CDNA - Get Free Report)'s stock had its "overweight" rating restated by analysts at Stephens in a research note issued on Monday,Benzinga reports. They currently have a $40.00 target price on the stock. Stephens' price target would suggest a potential upside of 159.40% from the company's current price.

A number of other research firms also recently issued reports on CDNA. 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. 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. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and cut their target price 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Stock Performance

Shares of CDNA traded up $0.03 during mid-day trading on Monday, reaching $15.42. The company had a trading volume of 1,675,008 shares, compared to its average volume of 876,817. The company's 50 day simple moving average is $17.87 and its 200 day simple moving average is $21.16. The company has a market capitalization of $858.60 million, a price-to-earnings ratio of -5.71 and a beta of 2.27. CareDx has a 1-year low of $12.53 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping 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 business had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. During the same period last year, the company earned ($0.03) EPS. The firm's revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast that CareDx will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the transaction, the director now directly owns 316,743 shares of the company's stock, valued at approximately $5,457,481.89. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $235,971.00. Following the transaction, the director now directly owns 37,045 shares in the company, valued at approximately $523,445.85. This represents a 31.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,246 shares of company stock worth $469,498 in the last quarter. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in CareDx by 108.5% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 19,482 shares of the company's stock valued at $346,000 after purchasing an additional 10,139 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after purchasing an additional 4,444 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in CareDx by 118.7% during the first quarter. Jupiter Asset Management Ltd. now owns 62,365 shares of the company's stock valued at $1,107,000 after buying an additional 33,847 shares during the last quarter. Moors & Cabot Inc. bought a new stake in CareDx in the first quarter worth $201,000. Finally, US Bancorp DE grew its stake in shares of CareDx by 7.2% in the first quarter. US Bancorp DE now owns 18,403 shares of the company's stock worth $327,000 after acquiring an additional 1,235 shares during the last quarter.

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.