CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $16.50.

A number of research firms have weighed in on CDNA. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Friday, May 31st. Stephens boosted their target price on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James downgraded shares of CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. Finally, Craig Hallum raised their target price on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 17th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of CareDx in the fourth quarter valued at about $50,000. Nisa Investment Advisors LLC boosted its stake in CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after purchasing an additional 5,253 shares during the period. Quest Partners LLC purchased a new stake in CareDx during the 4th quarter valued at approximately $117,000. WINTON GROUP Ltd bought a new stake in shares of CareDx during the third quarter valued at approximately $72,000. Finally, Cetera Trust Company N.A purchased a new position in shares of CareDx in the fourth quarter worth $142,000.

CareDx Stock Down 4.1 %

Shares of CDNA stock opened at $14.01 on Thursday. The firm has a market capitalization of $729.70 million, a PE ratio of -4.10 and a beta of 1.77. The company has a 50 day moving average price of $12.82 and a 200-day moving average price of $11.06. CareDx has a 52 week low of $4.80 and a 52 week high of $17.03.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.18. The business had revenue of $72.05 million during the quarter, compared to the consensus estimate of $63.63 million. CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. Analysts anticipate that CareDx will post -1.49 earnings per share for the current 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.