Shares of CareDx Inc (NASDAQ:CDNA) have been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $35.40.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 7th. HC Wainwright reaffirmed a “hold” rating and issued a $27.00 price objective on shares of CareDx in a research note on Friday, December 21st. BidaskClub lowered shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 15th. Finally, Jefferies Financial Group assumed coverage on shares of CareDx in a research note on Friday, February 15th. They issued a “buy” rating and a $35.00 price objective for the company.
In other CareDx news, insider Sasha King sold 2,500 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $25.00, for a total transaction of $62,500.00. Following the completion of the sale, the insider now directly owns 76,387 shares of the company’s stock, valued at $1,909,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James P. Yee sold 32,500 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $23.88, for a total transaction of $776,100.00. Following the sale, the insider now directly owns 73,543 shares of the company’s stock, valued at $1,756,206.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,822 shares of company stock valued at $5,815,664. Insiders own 3.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CareDx during the fourth quarter valued at about $45,000. First Interstate Bank acquired a new position in shares of CareDx during the fourth quarter valued at about $80,000. Great West Life Assurance Co. Can acquired a new position in shares of CareDx during the fourth quarter valued at about $81,000. Meeder Asset Management Inc. increased its holdings in shares of CareDx by 31.7% during the fourth quarter. Meeder Asset Management Inc. now owns 5,692 shares of the company’s stock valued at $144,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of CareDx by 19.5% during the fourth quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock valued at $154,000 after acquiring an additional 998 shares in the last quarter. 93.20% of the stock is owned by institutional investors and hedge funds.
NASDAQ CDNA opened at $35.59 on Friday. The stock has a market capitalization of $1.49 billion, a PE ratio of -27.17 and a beta of 1.21. CareDx has a 12 month low of $5.51 and a 12 month high of $38.38.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). CareDx had a negative return on equity of 63.64% and a negative net margin of 61.06%. The company had revenue of $23.51 million during the quarter, compared to the consensus estimate of $23.34 million. On average, research analysts predict that CareDx will post -0.16 EPS for the current year.
CareDx Company Profile
CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, focuses on the discovery, development, and commercialization of diagnostic solutions for transplant patients worldwide. The company develops and provides a diagnostic surveillance testing solution for heart and kidney transplant recipients.
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