CareDx, Inc (NASDAQ:CDNA) Given Average Rating of “Hold” by Brokerages

Shares of CareDx, Inc (NASDAQ:CDNA) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $28.80.

CDNA has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target for the company. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. StockNews.com cut shares of CareDx from a “buy” rating to a “hold” rating in a research note on Wednesday. Craig Hallum raised 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. Finally, The Goldman Sachs Group raised their target price on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $30.91 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of -9.04 and a beta of 1.77. The firm has a fifty day moving average price of $28.52 and a 200 day moving average price of $18.36. CareDx has a 1-year low of $4.80 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. The firm had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. Sell-side analysts expect that CareDx will post -0.84 EPS for the current fiscal year.

Insider Activity at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock worth $3,025,415 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently added to or reduced their stakes in the business. ClariVest Asset Management LLC increased its holdings in CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after acquiring an additional 1,810 shares in the last quarter. GAMMA Investing LLC increased its holdings in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after acquiring an additional 2,344 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CareDx by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock valued at $329,000 after acquiring an additional 2,503 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of CareDx by 7.4% during the second quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock worth $575,000 after buying an additional 2,536 shares in the last quarter.

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.