Analysts Set CareDx, Inc (NASDAQ:CDNA) Price Target at $29.60

CareDx, Inc (NASDAQ:CDNA) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $29.60.

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BTIG Research reduced their price target on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company initiated coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target for the company.

Insider Activity at CareDx

In related news, Director Peter Maag sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now owns 330,024 shares in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after purchasing an additional 1,960,308 shares during the period. Renaissance Technologies LLC lifted its stake in CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of CareDx by 30.8% during the third quarter. Fred Alger Management LLC now owns 1,503,521 shares of the company’s stock valued at $46,947,000 after buying an additional 353,919 shares during the period. Geode Capital Management LLC grew its stake in shares of CareDx by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after buying an additional 32,141 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of CareDx by 78.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock worth $21,760,000 after buying an additional 306,222 shares during the period.

CareDx Stock Performance

Shares of CareDx stock opened at $20.40 on Thursday. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The company has a market capitalization of $1.09 billion, a P/E ratio of -7.56 and a beta of 1.84. The company has a fifty day moving average of $24.09 and a 200 day moving average of $23.38.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. Analysts forecast that CareDx will post -0.7 EPS for the current year.

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.