CareDx, Inc. (NASDAQ:CDNA) Stock Has Consensus Target Price of $70.33

Shares of CareDx, Inc. (NASDAQ:CDNA) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $70.33.

A number of research analysts have recently weighed in on the company. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 5th. BTIG Research upped their price target on CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Canaccord Genuity Group set a $99.00 price target on CareDx in a research report on Friday, October 30th. Wall Street Zen cut CareDx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday, August 3rd.

CareDx Trading Down 2.4%

NASDAQ CDNA traded down $1.93 during trading hours on Thursday, hitting $77.88. The company’s stock had a trading volume of 716,354 shares, compared to its average volume of 1,373,271. CareDx has a 52 week low of $15.15 and a 52 week high of $90.87. The company has a market capitalization of $4.09 billion, a PE ratio of 32.59 and a beta of 2.51. The company’s 50-day simple moving average is $66.34 and its two-hundred day simple moving average is $36.70.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.45. The business had revenue of $139.36 million during the quarter, compared to the consensus estimate of $121.96 million. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. Research analysts anticipate that CareDx will post 1.00 EPS for the current fiscal year.

Insider Activity at CareDx

In other news, CFO Keith Kennedy sold 61,961 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $77.82, for a total value of $4,821,805.02. Following the sale, the chief financial officer owned 199,147 shares of the company’s stock, valued at $15,497,619.54. The trade was a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CDNA. Squarepoint Ops LLC lifted its holdings in shares of CareDx by 759.5% in the second quarter. Squarepoint Ops LLC now owns 141,623 shares of the company’s stock worth $4,036,000 after buying an additional 125,146 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of CareDx in the second quarter valued at approximately $1,505,000. Corient Private Wealth LP bought a new position in shares of CareDx in the second quarter valued at approximately $654,000. Bank of New York Mellon Corp purchased a new position in CareDx during the second quarter valued at approximately $4,874,000. Finally, Man Group plc purchased a new position in CareDx during the second quarter valued at approximately $3,618,000.

About CareDx

CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.