Analysts Set CareDx, Inc (NASDAQ:CDNA) Price Target at $30.33

CareDx, Inc (NASDAQ:CDNA) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $30.33.

Several research analysts recently commented on the stock. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a “neutral” rating and set a $25.00 price objective on shares of CareDx in a research note on Monday, May 5th. Stephens reiterated an “overweight” rating and set a $40.00 target price on shares of CareDx in a report on Monday, May 5th. StockNews.com downgraded CareDx from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 17th.

CareDx Trading Down 1.4%

Shares of CareDx stock opened at $16.13 on Friday. The firm has a market capitalization of $898.13 million, a PE ratio of -5.97 and a beta of 2.27. CareDx has a 12 month low of $12.90 and a 12 month high of $34.84. The business’s 50-day moving average price is $17.79 and its 200-day moving average price is $21.09.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $84.69 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. As a group, analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total transaction of $235,971.00. Following the completion of the sale, the director now directly owns 37,045 shares in the company, valued at approximately $523,445.85. This trade represents a 31.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the transaction, the director now directly owns 316,743 shares of the company’s stock, valued at $5,457,481.89. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,246 shares of company stock worth $469,498. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in CareDx by 37.1% in the 1st quarter. Thompson Davis & CO. Inc. now owns 22,000 shares of the company’s stock worth $390,000 after acquiring an additional 5,950 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of CareDx by 1.7% during the 1st quarter. Sei Investments Co. now owns 47,921 shares of the company’s stock valued at $851,000 after acquiring an additional 816 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of CareDx by 35.7% in the first quarter. Lord Abbett & CO. LLC now owns 513,549 shares of the company’s stock worth $9,115,000 after acquiring an additional 135,025 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of CareDx by 89.9% during the first quarter. Russell Investments Group Ltd. now owns 594,851 shares of the company’s stock valued at $10,559,000 after purchasing an additional 281,592 shares during the last quarter. Finally, Nuveen LLC bought a new position in CareDx during the first quarter valued at approximately $3,483,000.

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.