CareDx (NASDAQ:CDNA) Given New $35.00 Price Target at BTIG Research

CareDx (NASDAQ:CDNA - Get Free Report) had its price target lowered by stock analysts at BTIG Research from $40.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price would indicate a potential upside of 52.84% from the company's previous close.

Several other research analysts also recently commented on CDNA. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. HC Wainwright reiterated a "neutral" rating on shares of CareDx in a research note on Tuesday, October 22nd. Craig Hallum increased their target price on shares of CareDx from $22.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company began coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an "underweight" rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, CareDx has an average rating of "Moderate Buy" and an average price target of $29.60.

CareDx Price Performance

Shares of CareDx stock traded down $0.03 on Tuesday, reaching $22.90. 1,713,788 shares of the company traded hands, compared to its average volume of 902,495. The company has a 50 day moving average of $27.88 and a 200 day moving average of $20.86. The firm has a market capitalization of $1.21 billion, a PE ratio of -8.48 and a beta of 1.80. CareDx has a 52 week low of $6.11 and a 52 week high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. CareDx's revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the firm earned ($0.43) EPS. As a group, analysts anticipate that CareDx will post -0.83 earnings per share for the current year.

Insider Activity

In other news, Director Peter Maag sold 35,552 shares of the firm's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction 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 transaction, the director now owns 330,024 shares in the company, valued at $10,903,992.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,340 shares of company stock worth $3,025,415. 4.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CareDx

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in CareDx by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company's stock worth $45,537,000 after acquiring an additional 180,334 shares during the last quarter. Gagnon Securities LLC grew its holdings in CareDx by 7.1% in the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company's stock worth $23,780,000 after acquiring an additional 149,485 shares during the last quarter. Millennium Management LLC boosted its stake in shares of CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company's stock valued at $33,248,000 after purchasing an additional 1,960,308 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of CareDx by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock valued at $23,492,000 after purchasing an additional 88,100 shares in the last quarter. Finally, Bamco Inc. NY bought a new stake in shares of CareDx during the 1st quarter valued at about $13,025,000.

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.