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

CareDx, Inc. (NASDAQ:CDNA) has received an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. One equities 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 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.00.

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, BTIG Research boosted 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.

Insider Transactions at CareDx

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. The trade was a 24.81% 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 three months, insiders sold 89,218 shares of company stock valued at $2,310,864. Insiders own 2.40% of the company’s stock.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. Price T Rowe Associates Inc. MD boosted its stake in CareDx by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,218 shares of the company’s stock valued at $739,000 after purchasing an additional 711 shares during the period. The Manufacturers Life Insurance Company increased its position in CareDx by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,742 shares of the company’s stock worth $542,000 after buying an additional 1,280 shares during the period. Quarry LP acquired a new stake in shares of CareDx during the fourth quarter worth $25,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of CareDx by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,091 shares of the company’s stock worth $365,000 after buying an additional 1,675 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of CareDx in the third quarter valued at about $31,000.

CareDx Stock Performance

CDNA opened at $29.11 on Friday. CareDx has a 52-week low of $10.96 and a 52-week high of $30.00. The firm has a market capitalization of $1.50 billion, a PE ratio of -181.94 and a beta of 2.43. The business’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $20.73.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. The firm had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business’s revenue was up 39.3% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, research analysts forecast 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.