CareDx (NASDAQ:CDNA) Sets New 1-Year High at $19.54

Shares of CareDx, Inc (NASDAQ:CDNA) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $19.54 and last traded at $19.54, with a volume of 706 shares changing hands. The stock had previously closed at $18.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CDNA shares. Craig Hallum boosted their price objective on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Stephens raised their price objective on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, May 13th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Friday, May 31st. The Goldman Sachs Group raised their price target on CareDx from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Raymond James downgraded CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus target price of $17.00.

CareDx Price Performance

The business has a 50-day moving average of $15.11 and a 200-day moving average of $11.62.

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

Hedge Funds Weigh In On CareDx

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after acquiring an additional 2,013 shares during the period. Headlands Technologies LLC purchased a new position in shares of CareDx in the 4th quarter worth $50,000. Nisa Investment Advisors LLC increased its stake in CareDx by 442.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after acquiring an additional 5,253 shares during the last quarter. Quest Partners LLC acquired a new position in shares of CareDx in the 4th quarter valued at about $117,000. Finally, Cetera Trust Company N.A purchased a new stake in CareDx during the fourth quarter worth approximately $142,000.

CareDx Company Profile

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.