CareDx (NASDAQ:CDNA) Price Target Raised to $45.00

CareDx (NASDAQ:CDNA) had its target price boosted by BTIG Research from $28.00 to $45.00 in a research note published on Thursday, Marketbeat reports. BTIG Research currently has a buy rating on the stock.

A number of other brokerages have also weighed in on CDNA. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Craig Hallum reiterated a “hold” rating and issued a $35.00 target price on shares of CareDx in a research note on Thursday. Finally, Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CareDx presently has a consensus rating of “Hold” and a consensus price target of $33.67.

CareDx Trading Down 1.5%

NASDAQ:CDNA opened at $39.73 on Thursday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -248.31 and a beta of 2.43. The company’s 50-day moving average is $25.21 and its two-hundred day moving average is $21.27. CareDx has a 12-month low of $11.26 and a 12-month high of $40.47.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. The firm had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. CareDx’s revenue was up 39.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. On average, equities research analysts forecast that CareDx will post 0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Hannah Valantine sold 12,103 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the sale, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. This represents a 24.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer directly owned 661,959 shares in the company, valued at $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 78,936 shares of company stock valued at $2,093,708. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in CareDx by 18.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock worth $19,703,000 after buying an additional 170,504 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CareDx by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock valued at $2,378,000 after purchasing an additional 13,619 shares during the last quarter. JPMorgan Chase & Co. grew its stake in CareDx by 41.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock valued at $1,340,000 after purchasing an additional 20,028 shares in the last quarter. First Trust Advisors LP acquired a new stake in CareDx during the 2nd quarter valued at approximately $1,822,000. Finally, Nebula Research & Development LLC purchased a new stake in CareDx during the 2nd quarter worth approximately $281,000.

About CareDx

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.