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

CareDx (NASDAQ:CDNA) had its price target decreased by equities researchers at BTIG Research from $40.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 53.51% from the stock’s current price.

CDNA has been the subject of several other research reports. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Craig Hallum raised their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group lifted their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Trading Down 0.6 %

NASDAQ:CDNA traded down $0.13 during mid-day trading on Tuesday, hitting $22.80. The company’s stock had a trading volume of 989,718 shares, compared to its average volume of 899,112. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.48 and a beta of 1.80. CareDx has a fifty-two week low of $6.11 and a fifty-two week high of $34.84. The stock has a fifty day moving average of $27.88 and a 200-day moving average of $20.86.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.11. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. CareDx’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.43) EPS. On average, equities analysts anticipate that CareDx will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on 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 of the company’s stock, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the company’s 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 sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This represents a 0.00 % decrease in their position. 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 three months. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently modified their holdings of the business. Caxton Associates LP increased its holdings in CareDx by 97.2% during the 1st quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after purchasing an additional 47,469 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock worth $2,417,000 after buying an additional 106,660 shares during the period. Renaissance Technologies LLC grew its holdings in shares of CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after buying an additional 88,100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in CareDx by 868.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after buying an additional 183,823 shares during the last quarter. Finally, Bamco Inc. NY bought a new stake in CareDx in the 1st quarter valued at approximately $13,025,000.

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.