CareDx (NASDAQ:CDNA) Sets New 1-Year High – Should You Buy?

CareDx, Inc. (NASDAQ:CDNA)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.49 and last traded at $29.17, with a volume of 30497 shares traded. The stock had previously closed at $28.82.

Analyst Upgrades and Downgrades

CDNA has been the topic of a number of research reports. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, BTIG Research increased their price objective on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CareDx currently has an average rating of “Hold” and an average price target of $25.00.

CareDx Stock Down 2.7%

The firm’s 50-day simple moving average is $22.74 and its 200-day simple moving average is $20.28. The firm has a market capitalization of $1.47 billion, a PE ratio of -178.12 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. The firm had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, equities research analysts forecast that CareDx, Inc. will post 0.22 earnings per share for the current year.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the sale, the chief executive officer owned 661,959 shares of the company’s stock, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director owned 36,686 shares in the company, valued at $847,813.46. This represents a 24.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 89,218 shares of company stock worth $2,310,864. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its position in shares of CareDx by 25.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock worth $6,909,000 after purchasing an additional 96,123 shares during the period. Paragon Associates & Paragon Associates II Joint Venture raised its stake in CareDx by 93.7% in the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock worth $6,180,000 after buying an additional 205,597 shares in the last quarter. Aberdeen Group plc bought a new position in CareDx in the fourth quarter worth about $6,506,000. ARK Investment Management LLC lifted its holdings in CareDx by 3.4% in the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after buying an additional 70,468 shares during the period. Finally, Portolan Capital Management LLC lifted its holdings in CareDx by 48.2% in the third quarter. Portolan Capital Management LLC now owns 933,532 shares of the company’s stock worth $13,574,000 after buying an additional 303,555 shares during the period.

CareDx Company Profile

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.