Analysts Set CareDx, Inc (NASDAQ:CDNA) PT at $28.80

CareDx, Inc (NASDAQ:CDNA) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $28.80.

Several analysts have recently commented on CDNA shares. Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective on the stock. Raymond James cut CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Friday. Stephens lifted their target price on CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, August 19th.

CareDx Stock Down 0.1 %

Shares of CDNA opened at $27.10 on Tuesday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -7.92 and a beta of 1.78. The business has a 50-day simple moving average of $23.41 and a two-hundred day simple moving average of $15.73.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The company had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. On average, equities analysts anticipate that CareDx will post -0.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its stake in shares of CareDx by 138.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 237,115 shares of the company’s stock valued at $2,845,000 after purchasing an additional 137,842 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CareDx by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,949 shares of the company’s stock worth $5,327,000 after buying an additional 33,767 shares during the period. BNP Paribas Financial Markets boosted its stake in CareDx by 2.1% during the fourth quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock worth $1,083,000 after buying an additional 1,876 shares during the period. First Eagle Investment Management LLC increased its position in CareDx by 12.5% during the fourth quarter. First Eagle Investment Management LLC now owns 1,131,207 shares of the company’s stock valued at $13,574,000 after acquiring an additional 126,018 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of CareDx in the fourth quarter valued at $117,000.

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.