CareDx (NASDAQ:CDNA) Price Target Lowered to $35.00 at BTIG Research

CareDx (NASDAQ:CDNA) had its price objective reduced by equities researchers at BTIG Research from $40.00 to $35.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 53.51% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Craig Hallum lifted their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.60.

CareDx Trading Down 0.6 %

Shares of CareDx stock traded down $0.13 on Tuesday, reaching $22.80. 989,718 shares of the company were exchanged, compared to its average volume of 899,112. The stock has a fifty day moving average price of $27.88 and a 200-day moving average price of $20.86. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.48 and a beta of 1.80. CareDx has a fifty-two week low of $6.11 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last released its earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. The business had revenue of $82.88 million for the quarter, compared to the consensus estimate of $80.04 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.43) earnings per share. On average, equities analysts anticipate that CareDx will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Maag sold 35,552 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,340 shares of company stock valued at $3,025,415. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several large investors have recently bought and sold shares of the stock. Millennium Management LLC grew its position in CareDx by 1,085.4% in the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after purchasing an additional 1,960,308 shares during the last quarter. Bamco Inc. NY acquired a new stake in CareDx during the first quarter worth about $13,025,000. Fred Alger Management LLC grew its position in CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after buying an additional 963,554 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after acquiring an additional 183,823 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in CareDx in the 2nd quarter valued at approximately $2,852,000.

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.