CareDx (NASDAQ:CDNA) Trading Up 3.2%

CareDx, Inc (NASDAQ:CDNA) traded up 3.2% on Thursday . The stock traded as high as $16.14 and last traded at $16.07. 234,839 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 913,019 shares. The stock had previously closed at $15.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CDNA shares. Stephens boosted their price objective on CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Raymond James downgraded CareDx from an “outperform” rating to a “market perform” rating in a research note on Monday, May 13th. The Goldman Sachs Group increased their price objective on CareDx from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Wednesday, May 15th. Finally, Craig Hallum increased their price objective on CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

CareDx Trading Up 0.7 %

The company has a 50-day simple moving average of $10.50 and a two-hundred day simple moving average of $10.13.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. The business had revenue of $65.57 million for the quarter, compared to analysts’ expectations of $63.66 million. During the same quarter in the previous year, the business posted ($0.34) earnings per share. CareDx’s revenue for the quarter was down 20.4% on a year-over-year basis. On average, equities research analysts anticipate that CareDx, Inc will post -1.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its stake in CareDx by 8.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock worth $12,189,000 after purchasing an additional 92,363 shares in the last quarter. Caxton Associates LP lifted its stake in CareDx by 97.2% in the 1st quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after purchasing an additional 47,469 shares in the last quarter. Bamco Inc. NY purchased a new stake in CareDx in the 1st quarter worth $13,025,000. Price T Rowe Associates Inc. MD lifted its stake in CareDx by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Gagnon Securities LLC lifted its stake in CareDx by 7.1% in the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after purchasing an additional 149,485 shares in the last quarter.

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.