Brokerages Set CareDx, Inc (NASDAQ:CDNA) Price Target at $28.33

Shares of CareDx, Inc (NASDAQ:CDNA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.33.

A number of research analysts have recently commented on CDNA shares. HC Wainwright reiterated a "neutral" rating and issued a $26.00 price target on shares of CareDx in a research note on Tuesday, January 14th. Wells Fargo & Company upgraded CareDx from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. BTIG Research decreased their price objective on CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price objective on CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, October 16th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CareDx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in CareDx in the 3rd quarter valued at about $27,000. Harvest Fund Management Co. Ltd bought a new position in CareDx in the 3rd quarter valued at about $52,000. KBC Group NV bought a new position in CareDx in the 3rd quarter valued at about $99,000. nVerses Capital LLC lifted its position in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock worth $103,000 after buying an additional 2,100 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of CareDx by 37.8% during the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company's stock worth $175,000 after buying an additional 1,540 shares in the last quarter.

CareDx Stock Performance

Shares of CDNA stock traded up $0.02 during trading on Friday, hitting $23.32. The company had a trading volume of 477,712 shares, compared to its average volume of 804,869. The firm has a market capitalization of $1.25 billion, a P/E ratio of -8.64 and a beta of 1.87. The stock's 50-day moving average price is $22.97 and its 200 day moving average price is $25.07. CareDx has a one year low of $7.42 and a one year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping 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 analysts' expectations of $80.04 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The company's quarterly revenue was up 23.4% on a year-over-year basis. On average, research analysts anticipate that CareDx will post -0.9 earnings per share for the current fiscal year.

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.