CareDx, Inc (NASDAQ:CDNA) Receives $14.00 Average Target Price from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.00.

A number of research analysts recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $15.00 target price on shares of CareDx in a report on Wednesday, April 17th. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and increased their target price for the company from $12.00 to $15.00 in a research note on Wednesday.

Institutional Trading of CareDx

A number of hedge funds have recently bought and sold shares of CDNA. Citigroup Inc. boosted its position in shares of CareDx by 7.1% in the third quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock worth $928,000 after buying an additional 8,768 shares during the period. ARK Investment Management LLC increased its holdings in shares of CareDx by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of CareDx by 38.7% during the third quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock worth $7,036,000 after purchasing an additional 280,345 shares during the period. Swiss National Bank boosted its holdings in shares of CareDx by 2.3% during the third quarter. Swiss National Bank now owns 118,200 shares of the company’s stock worth $827,000 after purchasing an additional 2,700 shares during the period. Finally, Vanguard Group Inc. increased its stake in CareDx by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,138,591 shares of the company’s stock valued at $28,970,000 after buying an additional 50,667 shares during the period.

CareDx Trading Up 4.9 %

Shares of NASDAQ:CDNA opened at $9.72 on Wednesday. CareDx has a twelve month low of $4.80 and a twelve month high of $12.93. The firm has a market cap of $503.30 million, a P/E ratio of -2.75 and a beta of 1.51. The company has a 50 day moving average of $9.67 and a 200-day moving average of $9.31.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The firm had revenue of $65.57 million during the quarter, compared to analyst estimates of $63.66 million. During the same quarter last year, the company earned ($0.34) earnings per share. The business’s revenue for the quarter was down 20.4% on a year-over-year basis. Equities research analysts forecast that CareDx will post -1.59 EPS for the current 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.