CareDx, Inc. (NASDAQ:CDNA) Receives Consensus Recommendation of “Hold” from Brokerages

CareDx, Inc. (NASDAQ:CDNA) has received a consensus rating of “Hold” from the six analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.00.

Several equities analysts have recently issued reports on the stock. BTIG Research raised their price target on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Wells Fargo & Company lifted their target price on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd.

Insiders Place Their Bets

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of CareDx stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $21.12, for a total transaction of $217,155.84. Following the completion of the transaction, the chief executive officer owned 676,475 shares of the company’s stock, valued at $14,287,152. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CareDx

A number of hedge funds have recently bought and sold shares of CDNA. Deerfield Management Company L.P. bought a new position in CareDx during the third quarter worth $31,857,000. Braidwell LP bought a new position in CareDx during the third quarter worth $31,738,000. Boston Partners raised its stake in CareDx by 2,776.5% during the fourth quarter. Boston Partners now owns 901,929 shares of the company’s stock worth $16,994,000 after buying an additional 870,574 shares during the last quarter. Bamco Inc. NY raised its stake in CareDx by 29.5% during the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after buying an additional 719,523 shares during the last quarter. Finally, Amova Asset Management Americas Inc. raised its stake in CareDx by 40.8% during the third quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after buying an additional 504,473 shares during the last quarter.

CareDx Stock Performance

CDNA stock opened at $21.63 on Thursday. The company has a fifty day moving average price of $19.35 and a 200-day moving average price of $18.99. The company has a market capitalization of $1.12 billion, a P/E ratio of -135.19 and a beta of 2.49. CareDx has a 52-week low of $10.96 and a 52-week high of $23.24.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.23. The firm had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts forecast that CareDx will post 0.22 earnings per share for the current fiscal year.

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.