CareDx, Inc. (NASDAQ:CDNA) Receives Average Rating of “Hold” from Analysts

Shares of CareDx, Inc. (NASDAQ:CDNA) have received an average recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.6667.

A number of equities analysts have issued reports on CDNA shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CareDx in a research note on Monday, December 29th. Wall Street Zen downgraded CareDx from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price objective on CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. BTIG Research upped their price objective on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th.

Insiders Place Their Bets

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the transaction, the chief executive officer owned 597,405 shares in the company, valued at approximately $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 29,636 shares of company stock worth $625,949. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in CareDx by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock worth $19,703,000 after buying an additional 170,504 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CareDx by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock worth $2,378,000 after acquiring an additional 13,619 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in CareDx in the 2nd quarter valued at $352,000. AlphaQuest LLC boosted its stake in CareDx by 40.0% in the 2nd quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock worth $187,000 after purchasing an additional 2,736 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in CareDx by 17.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock worth $439,000 after purchasing an additional 3,389 shares during the period.

CareDx Trading Up 3.7%

Shares of NASDAQ CDNA opened at $20.19 on Tuesday. CareDx has a 1 year low of $10.96 and a 1 year high of $25.55. The firm’s 50-day moving average is $19.62 and its 200-day moving average is $16.20. The firm has a market capitalization of $1.04 billion, a PE ratio of 16.97 and a beta of 2.51.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.