CareDx Inc (CDNA) Receives Average Rating of “Buy” from Analysts

Shares of CareDx Inc (NASDAQ:CDNA) have been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $8.88.

CDNA has been the subject of a number of research analyst reports. HC Wainwright initiated coverage on CareDx in a report on Monday, November 27th. They set a “buy” rating and a $12.00 target price for the company. Craig Hallum restated a “buy” rating and set a $10.00 target price (up from $4.00) on shares of CareDx in a report on Monday, October 9th. Raymond James Financial raised CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, September 27th. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Wednesday, January 10th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $7.00 price target (up previously from $3.00) on shares of CareDx in a research report on Tuesday, September 26th.

CareDx (NASDAQ CDNA) opened at $6.48 on Tuesday. CareDx has a twelve month low of $0.76 and a twelve month high of $7.98. The company has a market capitalization of $185.35, a PE ratio of -3.58 and a beta of 1.05. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of -124.53.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, November 9th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. CareDx had a negative return on equity of 157.00% and a negative net margin of 84.14%. The company had revenue of $12.19 million during the quarter, compared to analysts’ expectations of $12.05 million. CareDx’s revenue for the quarter was down 2.3% compared to the same quarter last year. equities analysts anticipate that CareDx will post -0.83 earnings per share for the current fiscal year.

In other news, COO Mitchell J. Nelles sold 10,948 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.17, for a total transaction of $78,497.16. Following the sale, the chief operating officer now owns 84,225 shares of the company’s stock, valued at approximately $603,893.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James P. Yee sold 29,197 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $7.00, for a total value of $204,379.00. Following the sale, the insider now directly owns 74,795 shares in the company, valued at approximately $523,565. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Wealth Partners LLC increased its position in CareDx by 2,250.0% during the third quarter. Private Wealth Partners LLC now owns 235,000 shares of the company’s stock worth $869,000 after buying an additional 225,000 shares during the period. Gagnon Securities LLC increased its position in CareDx by 3.9% during the third quarter. Gagnon Securities LLC now owns 2,166,403 shares of the company’s stock worth $8,016,000 after buying an additional 82,111 shares during the period. Thompson Davis & CO. Inc. increased its position in CareDx by 3,294.9% during the third quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock worth $754,000 after buying an additional 197,692 shares during the period. Perkins Capital Management Inc. acquired a new position in CareDx during the third quarter worth approximately $513,000. Finally, Royce & Associates LP increased its position in CareDx by 8.1% during the third quarter. Royce & Associates LP now owns 792,787 shares of the company’s stock worth $2,933,000 after buying an additional 59,500 shares during the period. 23.14% of the stock is currently owned by institutional investors and hedge funds.

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About CareDx

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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