CareDx, Inc. (NASDAQ:CDNA – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $53.74 and last traded at $52.1560, with a volume of 151331 shares changing hands. The stock had previously closed at $52.37.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. William Blair raised shares of CareDx to a “hold” rating in a research note on Thursday, July 16th. BTIG Research lifted their target price on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Canaccord Genuity Group started coverage on CareDx in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $65.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.
Check Out Our Latest Research Report on CareDx
CareDx Stock Performance
CareDx (NASDAQ:CDNA – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. During the same period in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 52.2% on a year-over-year basis. On average, research analysts forecast that CareDx, Inc. will post 0.47 EPS for the current fiscal year.
Insider Activity
In other news, CEO Walter Jr sold 39,900 shares of CareDx stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the sale, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Cournoyer sold 16,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 42,943 shares of the company’s stock, valued at $2,015,744.42. The trade was a 27.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,000 shares of company stock valued at $2,846,216 in the last 90 days. 2.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On CareDx
A number of hedge funds have recently added to or reduced their stakes in CDNA. Integrated Wealth Concepts LLC purchased a new stake in CareDx during the second quarter valued at $29,000. Squarepoint Ops LLC boosted its position in CareDx by 759.5% in the second quarter. Squarepoint Ops LLC now owns 141,623 shares of the company’s stock worth $4,036,000 after purchasing an additional 125,146 shares during the last quarter. Nykredit A S bought a new stake in shares of CareDx during the 2nd quarter valued at about $25,000. Corient Private Wealth LP bought a new stake in shares of CareDx during the 2nd quarter valued at about $697,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of CareDx during the 2nd quarter valued at about $668,000.
CareDx Company Profile
CareDx, Inc is a precision medicine company focused on improving outcomes for transplant patients. The company develops and commercializes diagnostic tests, monitoring solutions and digital health services designed to help clinicians assess organ health, identify potential rejection and support the long-term management of transplant recipients.
Its portfolio includes AlloMap, a gene-expression blood test used in heart-transplant monitoring, and AlloSure, a donor-derived cell-free DNA test used to assess kidney-transplant health.
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