CareDx (NASDAQ:CDNA) Sets New 52-Week High at $17.03

Shares of CareDx, Inc (NASDAQ:CDNA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $17.03 and last traded at $16.56, with a volume of 138241 shares changing hands. The stock had previously closed at $15.83.

Wall Street Analyst Weigh In

Several research analysts have commented on CDNA shares. Stephens boosted their price target on shares of CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Wednesday, May 15th. The Goldman Sachs Group increased their price target on shares of CareDx from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Raymond James cut shares of CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. Finally, Craig Hallum lifted their price target on shares of CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

CareDx Price Performance

The business’s 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $10.09. The stock has a market capitalization of $849.42 million, a price-to-earnings ratio of -4.89 and a beta of 1.51.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The business had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. CareDx’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.34) EPS. As a group, sell-side analysts expect that CareDx, Inc will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in CareDx in the 4th quarter valued at about $50,000. Nisa Investment Advisors LLC boosted its holdings in shares of CareDx by 442.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after acquiring an additional 5,253 shares in the last quarter. Quest Partners LLC acquired a new position in shares of CareDx during the fourth quarter valued at approximately $117,000. WINTON GROUP Ltd bought a new stake in CareDx during the third quarter worth approximately $72,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CareDx by 23.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company’s stock worth $82,000 after purchasing an additional 2,211 shares during the period.

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.