Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $29.60

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

A number of analysts have issued reports on CDNA shares. The Goldman Sachs Group lifted their price target on CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. HC Wainwright reaffirmed a "neutral" rating on shares of CareDx in a report on Tuesday, October 22nd. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Finally, BTIG Research dropped their target price on shares of CareDx from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of CareDx by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 193,994 shares of the company's stock worth $3,013,000 after acquiring an additional 12,404 shares during the period. ClariVest Asset Management LLC boosted its holdings in CareDx by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company's stock valued at $994,000 after purchasing an additional 1,810 shares in the last quarter. American Century Companies Inc. increased its position in CareDx by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 108,366 shares of the company's stock worth $1,683,000 after purchasing an additional 11,168 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of CareDx during the 2nd quarter worth approximately $142,000. Finally, Federated Hermes Inc. lifted its holdings in shares of CareDx by 7.4% in the 2nd quarter. Federated Hermes Inc. now owns 37,003 shares of the company's stock valued at $575,000 after buying an additional 2,536 shares during the period.

CareDx Stock Performance

CDNA stock traded up $1.01 during mid-day trading on Monday, reaching $23.34. The company had a trading volume of 556,140 shares, compared to its average volume of 411,680. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.64 and a beta of 1.86. The firm has a fifty day simple moving average of $22.88 and a 200 day simple moving average of $24.06.

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

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.