CareDx (NASDAQ:CDNA) Given Buy Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of CareDx (NASDAQ:CDNA) in a report issued on Friday morning,Benzinga reports. BTIG Research currently has a $22.00 target price on the stock.

A number of other research firms have also commented on CDNA. Craig Hallum cut their price target on CareDx from $40.00 to $26.00 and set a “buy” rating for the company in a report on Friday, July 18th. Wall Street Zen lowered CareDx from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. William Blair started coverage on CareDx in a research note on Tuesday, August 26th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, CareDx has a consensus rating of “Moderate Buy” and an average price target of $25.50.

CareDx Price Performance

CareDx stock opened at $13.53 on Friday. CareDx has a one year low of $10.96 and a one year high of $32.97. The business has a fifty day moving average price of $13.83 and a 200-day moving average price of $16.70. The firm has a market capitalization of $720.20 million, a P/E ratio of 13.26 and a beta of 2.28.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.28). CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. During the same period in the previous year, the business earned $0.25 earnings per share. CareDx’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts expect that CareDx will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, Director Hannah Valantine sold 10,570 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total transaction of $202,521.20. Following the transaction, the director directly owned 38,994 shares of the company’s stock, valued at approximately $747,125.04. This trade represents a 21.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter Maag sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the sale, the director owned 308,846 shares of the company’s stock, valued at $5,738,358.68. The trade was a 3.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,570 shares of company stock valued at $580,721 in the last three months. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of CareDx

A number of hedge funds have recently bought and sold shares of CDNA. MCF Advisors LLC lifted its position in CareDx by 292.9% in the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock worth $26,000 after buying an additional 996 shares during the last quarter. Allworth Financial LP bought a new stake in CareDx in the 2nd quarter worth approximately $40,000. PNC Financial Services Group Inc. lifted its position in CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company’s stock worth $79,000 after buying an additional 4,444 shares during the last quarter. State of Wyoming bought a new stake in CareDx in the 4th quarter worth approximately $91,000. Finally, Morse Asset Management Inc bought a new stake in CareDx in the 1st quarter worth approximately $103,000.

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.