CareDx, Inc (NASDAQ:CDNA) Receives Average Recommendation of “Hold” from Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.60.

CDNA has been the subject of a number of analyst reports. Craig Hallum raised their price target on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, August 19th. Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th.

CareDx Trading Down 1.3 %

Shares of NASDAQ CDNA opened at $22.60 on Wednesday. The stock has a fifty day simple moving average of $28.81 and a two-hundred day simple moving average of $20.35. CareDx has a 1-year low of $4.92 and a 1-year high of $34.84. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -6.56 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The business had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. Analysts forecast that CareDx will post -0.84 EPS for the current year.

Insider Activity at CareDx

In related news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on 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 of the company’s stock, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CareDx news, Director Peter Maag sold 35,552 shares of the firm’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 sale, the director now owns 330,024 shares in the company, valued at $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 value of $1,148,450.05. Following the sale, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,340 shares of company stock valued at $3,025,415. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of large investors have recently added to or reduced their stakes in CDNA. GAMMA Investing LLC raised its position in CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of CareDx in the second quarter worth about $62,000. nVerses Capital LLC increased its holdings in shares of CareDx by 175.0% in the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after buying an additional 2,100 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the second quarter worth about $142,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after buying an additional 18,481 shares during the period.

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.