Analysts Set CareDx, Inc (NASDAQ:CDNA) PT at $30.60

Shares of CareDx, Inc (NASDAQ:CDNA - Get Free Report) have been given an average recommendation of "Hold" by the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.60.

Several research analysts have recently weighed in on CDNA shares. HC Wainwright reissued a "neutral" rating on shares of CareDx in a report on Tuesday. Wells Fargo & Company started coverage on shares of CareDx in a report on Tuesday, August 27th. They set an "underweight" rating and a $28.00 price objective for the company. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Craig Hallum boosted their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th.

Insiders Place Their Bets

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter Maag sold 35,552 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the transaction, the director now owns 330,024 shares of the company's stock, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 over the last three months. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CareDx by 4.4% during the first 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 boosted its position in shares of 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 acquiring an additional 149,485 shares during the last quarter. Millennium Management LLC boosted its position in shares of CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company's stock worth $33,248,000 after acquiring an additional 1,960,308 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company's stock worth $23,492,000 after acquiring an additional 88,100 shares during the last quarter. Finally, Bamco Inc. NY bought a new position in shares of CareDx during the first quarter worth $13,025,000.

CareDx Stock Down 0.1 %

CareDx stock traded down $0.03 during trading hours on Wednesday, hitting $23.11. The stock had a trading volume of 490,501 shares, compared to its average volume of 907,160. The stock has a market capitalization of $1.20 billion, a P/E ratio of -6.77 and a beta of 1.77. CareDx has a 12-month low of $4.80 and a 12-month high of $34.84. The stock's 50-day moving average price is $29.46 and its 200-day moving average price is $19.97.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The business had revenue of $92.27 million during the quarter, compared to analysts' expectations of $67.20 million. On average, research analysts expect that CareDx will post -0.84 EPS for the current fiscal 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.