CareDx, Inc (NASDAQ:CDNA) Receives $29.60 Consensus Price Target from Analysts

CareDx, Inc (NASDAQ:CDNA - Get Free Report) has received an average rating of "Hold" from the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $29.60.

Several equities analysts recently issued reports on the company. HC Wainwright restated a "neutral" rating on shares of CareDx in a research note on Tuesday, October 22nd. Craig Hallum raised their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Finally, BTIG Research reduced their price objective on shares of CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th.

CareDx Trading Down 1.8 %

NASDAQ CDNA traded down $0.38 during trading on Friday, hitting $21.17. 1,072,226 shares of the company traded hands, compared to its average volume of 845,015. The business has a fifty day simple moving average of $26.68 and a 200 day simple moving average of $21.70. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The company has a market capitalization of $1.14 billion, a P/E ratio of -7.84 and a beta of 1.80.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. During the same quarter in the prior year, the company earned ($0.43) EPS. The firm's revenue for the quarter was up 23.4% compared to the same quarter last year. Equities research analysts predict that CareDx will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alexander L. Johnson sold 21,557 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the sale, the insider now owns 284,983 shares of the company's stock, valued at $9,284,746.14. The trade was a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter Maag sold 35,552 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 over the last ninety days. Corporate insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On CareDx

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in CareDx by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company's stock valued at $45,537,000 after buying an additional 180,334 shares during the last quarter. Gagnon Securities LLC boosted its holdings in CareDx by 7.1% during the first quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company's stock worth $23,780,000 after purchasing an additional 149,485 shares during the last quarter. Millennium Management LLC grew its position in CareDx by 1,085.4% in the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company's stock worth $33,248,000 after purchasing an additional 1,960,308 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock valued at $23,492,000 after acquiring an additional 88,100 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of CareDx by 30.8% in the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company's stock valued at $46,947,000 after acquiring an additional 353,919 shares in the last quarter.

CareDx Company Profile

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.