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

CareDx, Inc (NASDAQ:CDNA) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $29.60.

A number of research firms have commented on CDNA. BTIG Research reduced their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in CareDx by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 193,994 shares of the company’s stock valued at $3,013,000 after purchasing an additional 12,404 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in shares of CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 shares in the last quarter. American Century Companies Inc. boosted its holdings in CareDx by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 108,366 shares of the company’s stock worth $1,683,000 after buying an additional 11,168 shares during the period. Meeder Asset Management Inc. purchased a new stake in CareDx in the 2nd quarter worth $142,000. Finally, Federated Hermes Inc. raised its holdings in CareDx by 7.4% during the second quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock valued at $575,000 after acquiring an additional 2,536 shares during the period.

CareDx Price Performance

Shares of CareDx stock opened at $23.63 on Monday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -8.75 and a beta of 1.86. The firm’s 50-day moving average is $22.96 and its 200 day moving average is $24.32. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84.

CareDx (NASDAQ:CDNA) last issued its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same period in the previous year, the company earned ($0.43) earnings per share. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, equities analysts expect that CareDx will post -0.7 EPS for the current fiscal year.

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.