CareDx, Inc (NASDAQ:CDNA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.33.

A number of analysts have weighed in on the company. The Goldman Sachs Group cut their price target on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. HC Wainwright reissued a “neutral” rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Stephens reaffirmed an “overweight” rating and issued a $40.00 price target on shares of CareDx in a report on Monday, May 5th. Finally, StockNews.com cut shares of CareDx from a “buy” rating to a “hold” rating in a report on Monday, May 5th.

Insider Buying and Selling

In related news, Director Peter Maag sold 13,281 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the completion of the sale, the director now owns 316,743 shares in the company, valued at $5,457,481.89. This represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the firm’s 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 transaction, the director now directly owns 37,045 shares in the company, valued at $591,238.20. The trade was a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,382 shares of company stock worth $934,509 in the last quarter. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On CareDx

A number of institutional investors and hedge funds have recently made changes to their positions in CDNA. Sterling Capital Management LLC grew its holdings in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares during the last quarter. PNC Financial Services Group Inc. grew its stake 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 valued at $79,000 after purchasing an additional 4,444 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after purchasing an additional 3,322 shares during the period. State of Wyoming purchased a new stake in shares of CareDx during the fourth quarter worth approximately $91,000. Finally, Morse Asset Management Inc acquired a new stake in shares of CareDx during the first quarter worth $103,000.

CareDx Stock Performance

Shares of CareDx stock opened at $16.10 on Friday. The business has a 50-day simple moving average of $17.64 and a 200-day simple moving average of $20.97. CareDx has a one year low of $12.90 and a one year high of $34.84. The company has a market cap of $896.46 million, a PE ratio of -5.96 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last posted its quarterly 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 company had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $84.56 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The firm’s revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

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.