CareDx (NASDAQ:CDNA) Shares Climb 5.8% – What’s Next?

CareDx, Inc. (NASDAQ:CDNA) traded up 5.8% on Thursday. The company traded as high as $56.57 and last traded at $57.4760. 98,993 shares traded hands during trading, a decline of 89% from the average daily volume of 882,494 shares. The stock had previously closed at $54.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright reissued 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 CareDx in a research report on Wednesday, September 2nd. They set a “buy” rating and a $65.00 price objective for the company. Craig Hallum upgraded 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. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.00.

CareDx Trading Up 3.8%

The company’s 50 day moving average price is $47.78 and its two-hundred day moving average price is $31.15. The firm has a market cap of $3.29 billion, a PE ratio of 30.76 and a beta of 2.43.

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

Insider Buying and Selling at CareDx

In other CareDx news, CEO Walter Jr sold 39,900 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the sale, the chief executive officer owned 661,959 shares in the company, valued at $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff, III sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the completion of the transaction, the director directly owned 134,061 shares in the company, valued at $6,204,343.08. This trade represents a 12.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 75,900 shares of company stock valued at $2,843,316. Company insiders own 2.40% of the company’s stock.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of CareDx during the 2nd quarter valued at $137,219,000. Bamco Inc. NY purchased a new stake in CareDx in the 2nd quarter worth $55,214,000. Gagnon Securities LLC increased its stake in CareDx by 2.6% in the 4th quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company’s stock worth $33,439,000 after buying an additional 45,465 shares in the last quarter. Amova Asset Management Americas Inc. raised its holdings in CareDx by 2.0% during the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after acquiring an additional 28,510 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in CareDx by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after acquiring an additional 28,510 shares during the period.

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.