CareDx, Inc (NASDAQ:CDNA) Given Consensus Rating of “Moderate Buy” by Analysts

CareDx, Inc (NASDAQ:CDNA) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.00.

Several equities research analysts recently commented on the company. Stephens restated an “overweight” rating and set a $15.00 target price on shares of CareDx in a research report on Wednesday, April 17th. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and increased their price target for the stock from $12.00 to $15.00 in a report on Wednesday, May 1st.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $9.72 on Wednesday. The company’s 50 day moving average price is $9.67 and its 200-day moving average price is $9.36. CareDx has a 52-week low of $4.80 and a 52-week high of $12.93. The company has a market capitalization of $503.30 million, a P/E ratio of -2.75 and a beta of 1.51.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The firm had revenue of $65.57 million for the quarter, compared to the consensus estimate of $63.66 million. CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. CareDx’s quarterly revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) EPS. Analysts forecast that CareDx will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On CareDx

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. lifted its position in CareDx by 7.1% in the 3rd quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock valued at $928,000 after acquiring an additional 8,768 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of CareDx by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of CareDx by 38.7% during the third quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock valued at $7,036,000 after buying an additional 280,345 shares during the last quarter. Swiss National Bank grew its holdings in CareDx by 2.3% during the third quarter. Swiss National Bank now owns 118,200 shares of the company’s stock worth $827,000 after buying an additional 2,700 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in CareDx by 1.2% during the third quarter. Vanguard Group Inc. now owns 4,138,591 shares of the company’s stock worth $28,970,000 after buying an additional 50,667 shares in the last quarter.

About CareDx

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.