CareDx, Inc. (NASDAQ:CDNA – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $26.78 and last traded at $25.05, with a volume of 733876 shares. The stock had previously closed at $26.18.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. BTIG Research raised their price objective on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.00.
Get Our Latest Stock Analysis on CDNA
CareDx Price Performance
CareDx (NASDAQ:CDNA – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $102.03 million. During the same period last year, the firm posted $0.09 earnings per share. CareDx’s revenue was up 39.3% compared to the same quarter last year. As a group, equities analysts predict that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the sale, the director owned 36,686 shares of the company’s stock, valued at $847,813.46. This trade represents a 24.81% decrease in their position. 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, CEO John Walter Hanna, Jr. sold 21,998 shares of CareDx stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.02, for a total transaction of $528,391.96. Following the completion of the sale, the chief executive officer owned 649,642 shares of the company’s stock, valued at $15,604,400.84. This represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,218 shares of company stock worth $1,141,288 in the last 90 days. Company insiders own 2.40% of the company’s stock.
Hedge Funds Weigh In On CareDx
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of CareDx by 44.9% in the first quarter. Bank of America Corp DE now owns 470,665 shares of the company’s stock worth $8,171,000 after acquiring an additional 145,840 shares during the period. Janus Henderson Group PLC boosted its position in CareDx by 10.1% in the first quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock worth $5,495,000 after purchasing an additional 28,958 shares during the last quarter. Amundi purchased a new position in CareDx in the first quarter worth about $206,000. Quantinno Capital Management LP bought a new stake in shares of CareDx during the 1st quarter valued at about $298,000. Finally, Renaissance Technologies LLC increased its position in shares of CareDx by 7.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock valued at $20,561,000 after purchasing an additional 79,200 shares during the last quarter.
About CareDx
CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.
The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.
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