CareDx, Inc (NASDAQ:CDNA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CareDx, Inc (NASDAQ:CDNA) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $31.83.

Several equities research analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, HC Wainwright cut their price objective on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd.

CareDx Stock Performance

Shares of CDNA stock opened at $17.96 on Friday. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The stock has a market cap of $995.45 million, a price-to-earnings ratio of -6.65 and a beta of 1.95. The firm’s 50-day moving average is $21.39 and its 200-day moving average is $23.67.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $1.46. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. Sell-side analysts predict that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Trading of CareDx

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of CareDx during the third quarter worth approximately $27,000. Sterling Capital Management LLC grew its position in CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in CareDx during the 3rd quarter worth $52,000. KBC Group NV acquired a new position in CareDx in the 3rd quarter valued at $99,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after acquiring an additional 3,322 shares during the period.

About CareDx

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.