CareDx, Inc. (NASDAQ:CDNA) Stock Has Consensus Target Price of $54.00

CareDx, Inc. (NASDAQ:CDNA) has earned an average rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $57.00.

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of CareDx from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Weiss Ratings raised CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. William Blair upgraded shares of CareDx to a “hold” rating in a research note on Thursday, July 16th. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Monday, August 3rd. Finally, BTIG Research boosted their target price on CareDx from $60.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, September 24th.

Insider Transactions at CareDx

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CDNA. Nykredit A S acquired a new position in CareDx in the second quarter worth about $25,000. Integrated Wealth Concepts LLC bought a new position in shares of CareDx during the second quarter valued at $29,000. Reyes Financial Architecture Inc. acquired a new position in CareDx in the third quarter valued at about $50,000. Signaturefd LLC bought a new position in shares of CareDx in the third quarter valued at approximately $51,000. Finally, Allworth Financial LP acquired a new position in shares of CareDx in the 2nd quarter worth approximately $72,000.

CareDx Stock Performance

Shares of CDNA stock opened at $69.21 on Friday. CareDx has a 1 year low of $14.23 and a 1 year high of $72.71. The stock has a fifty day moving average of $57.25 and a two-hundred day moving average of $37.93. The firm has a market capitalization of $3.58 billion, a PE ratio of 33.43 and a beta of 2.38.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. The firm had revenue of $131.95 million for 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%. CareDx’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. Equities research analysts predict that CareDx will post 0.47 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.