CareDx (NASDAQ:CDNA) Given New $35.00 Price Target at BTIG Research

CareDx (NASDAQ:CDNA) had its price objective lowered by BTIG Research from $40.00 to $35.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Wells Fargo & Company began coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective on the stock. Craig Hallum upped their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Price Performance

Shares of CareDx stock opened at $23.65 on Tuesday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.76 and a beta of 1.80. The firm’s fifty day simple moving average is $27.28 and its 200-day simple moving average is $21.10. CareDx has a 12 month low of $6.91 and a 12 month high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 54.34%. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. During the same period in the previous year, the business posted ($0.43) earnings per share. CareDx’s quarterly revenue was up 23.4% on a year-over-year basis. Analysts anticipate that CareDx will post -0.83 earnings per share for the current year.

Insider Activity at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the sale, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock worth $3,025,415 over the last 90 days. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in shares of CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of CareDx during the first quarter worth about $13,025,000. Fred Alger Management LLC raised its position in shares of CareDx by 517.9% in the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after buying an additional 963,554 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of CareDx by 78.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after buying an additional 306,222 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after acquiring an additional 183,823 shares during the last quarter.

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.