CareDx (NASDAQ:CDNA) Hits New 1-Year High – Still a Buy?

CareDx, Inc. (NASDAQ:CDNA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.78 and last traded at $25.05, with a volume of 733876 shares traded. The stock had previously closed at $26.18.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. BTIG Research raised their target price on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

CareDx Stock Performance

The business has a 50-day simple moving average of $21.64 and a 200 day simple moving average of $19.92. The firm has a market cap of $1.29 billion, a P/E ratio of -156.56 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data 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. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $102.03 million. During the same quarter last year, the business posted $0.09 EPS. The business’s revenue was up 39.3% on a year-over-year basis. On average, research analysts expect that CareDx, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling at CareDx

In related news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the sale, the director owned 36,686 shares in the company, valued at $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 21,998 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $24.02, for a total transaction of $528,391.96. Following the completion of the transaction, the chief executive officer owned 649,642 shares of the company’s stock, valued at $15,604,400.84. This trade represents a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 49,218 shares of company stock worth $1,141,288. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC increased its stake in shares of CareDx by 25.4% during the third quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock valued at $6,909,000 after purchasing an additional 96,123 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture boosted its position in shares of CareDx by 93.7% in the 3rd quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock worth $6,180,000 after purchasing an additional 205,597 shares in the last quarter. Aberdeen Group plc purchased a new stake in shares of CareDx in the 4th quarter worth approximately $6,506,000. ARK Investment Management LLC grew its stake in shares of CareDx by 3.4% in the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after buying an additional 70,468 shares during the last quarter. Finally, Portolan Capital Management LLC increased its position in CareDx by 48.2% during the 3rd quarter. Portolan Capital Management LLC now owns 933,532 shares of the company’s stock valued at $13,574,000 after buying an additional 303,555 shares in the last quarter.

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.