BTIG Research Reaffirms “Buy” Rating for CareDx (NASDAQ:CDNA)

BTIG Research restated their buy rating on shares of CareDx (NASDAQ:CDNA) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $22.00 target price on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of CareDx from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Craig Hallum dropped their price target on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Wells Fargo & Company dropped their target price on CareDx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Finally, William Blair assumed coverage on CareDx in a report on Tuesday, August 26th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

CareDx Price Performance

Shares of CDNA opened at $14.87 on Tuesday. CareDx has a 12 month low of $10.96 and a 12 month high of $32.97. The stock’s 50-day moving average is $13.11 and its two-hundred day moving average is $16.36. The stock has a market cap of $791.53 million, a PE ratio of 14.58 and a beta of 2.28.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.28). The company had revenue of $90.51 million during the quarter, compared to analyst estimates of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. CareDx’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, research analysts anticipate that CareDx will post -0.9 earnings per share for the current year.

Insider Transactions at CareDx

In other CareDx news, Director Peter Maag sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $18.58, for a total transaction of $185,800.00. Following the sale, the director owned 308,846 shares in the company, valued at $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On CareDx

Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in CareDx during the first quarter valued at $375,000. Acadian Asset Management LLC boosted its holdings in shares of CareDx by 6.1% in the 1st quarter. Acadian Asset Management LLC now owns 359,303 shares of the company’s stock valued at $6,373,000 after buying an additional 20,806 shares during the period. Dynamic Technology Lab Private Ltd grew its position in shares of CareDx by 67.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company’s stock valued at $950,000 after buying an additional 21,627 shares during the last quarter. Nuveen Asset Management LLC raised its stake in CareDx by 15.5% during the fourth quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company’s stock worth $9,594,000 after acquiring an additional 60,050 shares during the period. Finally, US Bancorp DE raised its stake in CareDx by 7.2% during the first quarter. US Bancorp DE now owns 18,403 shares of the company’s stock worth $327,000 after acquiring an additional 1,235 shares during the period.

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.