CareDx (NASDAQ:CDNA) Hits New 1-Year High - Time to Buy?

CareDx, Inc. (NASDAQ:CDNA - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday. The company traded as high as $69.95 and last traded at $69.5130, with a volume of 488926 shares. The stock had previously closed at $67.15.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CDNA shares. Weiss Ratings upgraded shares of CareDx from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Canaccord Genuity Group started coverage on CareDx in a research report on Wednesday, September 2nd. They issued a "buy" rating and a $65.00 price objective for the company. Zacks Research raised shares of CareDx from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. BTIG Research increased their price target on shares of CareDx from $60.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, September 24th. Finally, William Blair upgraded shares of CareDx to a "hold" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

CareDx Stock Up 2.8%

The firm has a 50 day moving average price of $50.53 and a two-hundred day moving average price of $32.94. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 33.39 and a beta of 2.38.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million for the quarter, compared to analysts' expectations of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company's revenue was up 52.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the transaction, the director owned 42,943 shares of the company's stock, valued at approximately $2,015,744.42. This trade represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of CareDx stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the completion of the transaction, the director owned 134,061 shares of the company's stock, valued at $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of CareDx in the 2nd quarter worth approximately $137,219,000. Bamco Inc. NY bought a new position in CareDx during the second quarter worth $55,214,000. Gagnon Securities LLC lifted its stake in CareDx by 2.6% during the fourth quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company's stock worth $33,439,000 after purchasing an additional 45,465 shares during the last quarter. Amova Asset Management Americas Inc. boosted its holdings in CareDx by 2.0% in the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company's stock worth $25,608,000 after purchasing an additional 28,510 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in CareDx by 2.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company's stock worth $25,608,000 after purchasing an additional 28,510 shares during the period.

About CareDx

CareDx, Inc NASDAQ: CDNA is a precision-medicine company focused on improving the care of organ-transplant patients. The company develops diagnostic tests, digital tools and services designed to help clinicians monitor transplant recipients, assess the risk of rejection and support long-term graft management.

CareDx's product portfolio includes AlloMap, a gene-expression blood test used in heart-transplant surveillance, and AlloSure, a donor-derived cell-free DNA test designed to help detect potential organ injury or rejection.

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