CareDx, Inc (NASDAQ:CDNA) Receives $16.50 Average PT from Brokerages

CareDx, Inc (NASDAQ:CDNA) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $16.50.

A number of research analysts have recently commented on CDNA shares. Craig Hallum upped their price target on CareDx from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 17th. The Goldman Sachs Group increased their target price on shares of CareDx from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday. Raymond James downgraded shares of CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. Finally, Stephens boosted their target price on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, May 13th.

CareDx Stock Performance

CDNA opened at $14.01 on Thursday. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $17.03. The firm has a 50-day moving average of $12.82 and a 200 day moving average of $11.06. The firm has a market cap of $729.70 million, a P/E ratio of -4.10 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.18. CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. The firm had revenue of $72.05 million during the quarter, compared to the consensus estimate of $63.63 million. Equities research analysts predict that CareDx will post -1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently bought and sold shares of the company. Swiss National Bank grew its position in shares of CareDx by 2.3% during the 3rd quarter. Swiss National Bank now owns 118,200 shares of the company’s stock valued at $827,000 after purchasing an additional 2,700 shares in the last quarter. Citigroup Inc. increased its stake in CareDx by 7.1% in the 3rd quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock worth $928,000 after acquiring an additional 8,768 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of CareDx in the 3rd quarter valued at about $72,000. Acadian Asset Management LLC boosted its position in shares of CareDx by 25.6% during the 3rd quarter. Acadian Asset Management LLC now owns 441,422 shares of the company’s stock valued at $3,088,000 after acquiring an additional 89,966 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of CareDx during the third quarter worth about $152,000.

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.