CareDx, Inc. (NASDAQ:CDNA) Given Consensus Recommendation of “Hold” by Analysts

Shares of CareDx, Inc. (NASDAQ:CDNA) have been given an average rating of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $25.00.

CDNA has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. BTIG Research increased their target price on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, Wells Fargo & Company increased their target price on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th.

Insider Buying and Selling

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of the stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $21.12, for a total value of $217,155.84. Following the transaction, the chief executive officer owned 676,475 shares of the company’s stock, valued at $14,287,152. This represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CDNA. Deerfield Management Company L.P. bought a new position in CareDx in the third quarter valued at $31,857,000. Braidwell LP purchased a new stake in CareDx during the third quarter valued at about $31,738,000. Boston Partners boosted its position in CareDx by 2,776.5% during the fourth quarter. Boston Partners now owns 901,929 shares of the company’s stock valued at $16,994,000 after buying an additional 870,574 shares during the period. Bamco Inc. NY boosted its position in CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after buying an additional 719,523 shares during the period. Finally, Amova Asset Management Americas Inc. boosted its position in CareDx by 40.8% during the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock valued at $25,283,000 after buying an additional 504,473 shares during the period.

CareDx Stock Performance

CareDx stock opened at $22.97 on Monday. The stock has a market cap of $1.19 billion, a P/E ratio of -143.56 and a beta of 2.49. CareDx has a fifty-two week low of $10.96 and a fifty-two week high of $24.13. The firm’s fifty day moving average price is $20.81 and its 200-day moving average price is $19.62.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.23. The firm had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The business’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts predict that CareDx will post 0.22 earnings per share for the current year.

CareDx Company Profile

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.