CareDx (NASDAQ:CDNA) Reaches New 1-Year High – Here’s Why

CareDx, Inc. (NASDAQ:CDNA) hit a new 52-week high during trading on Thursday . The company traded as high as $22.38 and last traded at $20.4840, with a volume of 612050 shares trading hands. The stock had previously closed at $17.57.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. Wells Fargo & Company upped their price target on CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a report on Tuesday, January 6th. BTIG Research increased their price objective on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen cut CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.33.

CareDx Trading Up 22.8%

The business has a fifty day moving average of $18.17 and a 200-day moving average of $17.79. The firm has a market cap of $1.11 billion, a PE ratio of -54.37 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The company had revenue of $108.39 million for the quarter, compared to analysts’ expectations of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. On average, equities analysts forecast that CareDx, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total value of $407,964.80. Following the sale, the chief executive officer owned 597,405 shares of the company’s stock, valued at $12,641,089.80. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is currently owned by insiders.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently modified their holdings of CDNA. Quarry LP purchased a new stake in shares of CareDx in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new stake in shares of CareDx in the 3rd quarter valued at about $31,000. State of Alaska Department of Revenue purchased a new stake in shares of CareDx in the 3rd quarter valued at about $43,000. Meeder Asset Management Inc. purchased a new stake in shares of CareDx in the 4th quarter valued at about $79,000. Finally, Quantbot Technologies LP purchased a new stake in shares of CareDx in the 3rd quarter valued at about $89,000.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.