CareDx, Inc. (NASDAQ:CDNA) Stock Has Average Target Price of $51.20

Shares of CareDx, Inc. (NASDAQ:CDNA) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $54.00.

CDNA has been the subject of a number of analyst reports. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. Canaccord Genuity Group assumed coverage on shares of CareDx in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $65.00 price target on the stock. Craig Hallum raised 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. William Blair raised shares of CareDx to a “hold” rating in a report on Thursday, July 16th. Finally, BTIG Research lifted their price objective on shares of CareDx from $60.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th.

Insider Activity

In related news, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total value of $751,040.00. Following the transaction, the director owned 42,943 shares of the company’s stock, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the transaction, the director directly owned 134,061 shares in the company, valued at $6,204,343.08. The trade was a 12.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On CareDx

A number of large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new position in CareDx in the 2nd quarter valued at about $1,505,000. Man Group plc acquired a new stake in CareDx during the 2nd quarter worth approximately $3,618,000. Corient Private Wealth LP acquired a new stake in CareDx during the 2nd quarter worth approximately $654,000. Squarepoint Ops LLC boosted its position in CareDx by 759.5% in the 2nd quarter. Squarepoint Ops LLC now owns 141,623 shares of the company’s stock valued at $4,036,000 after buying an additional 125,146 shares during the period. Finally, Bamco Inc. NY purchased a new position in CareDx in the 2nd quarter valued at approximately $55,214,000.

CareDx Trading Down 0.9%

CDNA opened at $64.02 on Wednesday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 30.93 and a beta of 2.43. The company’s 50 day moving average is $48.81 and its 200 day moving average is $31.91. CareDx has a 12-month low of $13.95 and a 12-month high of $65.50.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.14. The business had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The firm’s revenue was up 52.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) earnings per share. As a group, analysts predict that CareDx will post 0.47 EPS for the current fiscal year.

About CareDx

CareDx, Inc is a precision medicine company focused on improving outcomes for transplant patients. The company develops and commercializes diagnostic tests, monitoring solutions and digital health services designed to help clinicians assess organ health, identify potential rejection and support the long-term management of transplant recipients.

Its portfolio includes AlloMap, a gene-expression blood test used in heart-transplant monitoring, and AlloSure, a donor-derived cell-free DNA test used to assess kidney-transplant health.