Analysts Set CareDx, Inc. (NASDAQ:CDNA) Price Target at $26.67

Shares of CareDx, Inc. (NASDAQ:CDNA) have been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.6667.

CDNA has been the topic of a number of recent analyst reports. Craig Hallum lowered CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research report on Tuesday, January 6th. Wall Street Zen raised CareDx from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Wells Fargo & Company upped their price objective on shares of CareDx from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. BTIG Research raised their target price on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of CareDx in a report on Monday, December 29th.

CareDx Price Performance

NASDAQ CDNA opened at $21.02 on Friday. CareDx has a 12 month low of $10.96 and a 12 month high of $25.55. The company has a market capitalization of $1.08 billion, a P/E ratio of 17.66 and a beta of 2.49. The company’s 50 day simple moving average is $18.83 and its 200 day simple moving average is $15.91.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. The firm had revenue of $100.06 million during the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. On average, analysts anticipate that CareDx will post -0.9 earnings per share for the current year.

Insider Transactions at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 10,156 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $21.05, for a total transaction of $213,783.80. Following the sale, the chief executive officer directly owned 616,885 shares of the company’s stock, valued at $12,985,429.25. The trade was a 1.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CDNA. MCF Advisors LLC increased its holdings in shares of CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares during the period. Allworth Financial LP purchased a new position in CareDx during the second quarter valued at approximately $40,000. FNY Investment Advisers LLC purchased a new position in CareDx during the third quarter valued at approximately $31,000. State of Alaska Department of Revenue acquired a new position in CareDx in the 3rd quarter valued at approximately $43,000. Finally, Quantbot Technologies LP acquired a new position in CareDx in the 3rd quarter valued at approximately $89,000.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.