CareDx, Inc (NASDAQ:CDNA) Receives Consensus Rating of "Moderate Buy" from Brokerages

CareDx, Inc (NASDAQ:CDNA - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.83.

CDNA has been the subject of several research analyst reports. HC Wainwright dropped their price objective on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. StockNews.com upgraded shares of CareDx from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. Stephens reissued an "overweight" rating and set a $40.00 price target on shares of CareDx in a research report on Thursday, February 27th. Finally, Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th.

CareDx Price Performance

Shares of CareDx stock traded down $0.53 during midday trading on Friday, hitting $19.08. 544,724 shares of the company were exchanged, compared to its average volume of 833,915. The firm has a 50 day simple moving average of $21.69 and a 200-day simple moving average of $23.87. CareDx has a 52 week low of $7.42 and a 52 week high of $34.84. The firm has a market cap of $1.06 billion, a P/E ratio of -7.07 and a beta of 1.95.

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CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.05 by $1.46. The firm had revenue of $86.58 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%. Equities research analysts expect that CareDx will post -0.9 earnings per share for the current year.

Institutional Trading of CareDx

Institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of CareDx during the 3rd quarter worth approximately $27,000. Thompson Davis & CO. Inc. increased its holdings in shares of CareDx by 6.3% in the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock valued at $344,000 after purchasing an additional 950 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of CareDx by 6.9% during the 4th quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock worth $365,000 after buying an additional 1,109 shares during the last quarter. Legal & General Group Plc grew its stake in CareDx by 1.3% in the 4th quarter. Legal & General Group Plc now owns 89,751 shares of the company's stock valued at $1,922,000 after buying an additional 1,118 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after acquiring an additional 1,126 shares during the period.

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.