CareDx (NASDAQ:CDNA) Trading Up 8.3%

CareDx, Inc (NASDAQ:CDNA) shares rose 8.3% during mid-day trading on Thursday . The company traded as high as $15.66 and last traded at $15.60. Approximately 103,798 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 872,199 shares. The stock had previously closed at $14.41.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CDNA shares. Raymond James downgraded shares of CareDx from an “outperform” rating to a “market perform” rating in a research report on Monday, May 13th. The Goldman Sachs Group raised 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. Stephens boosted their target price on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research report on Friday, May 31st. Finally, StockNews.com downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.50.

CareDx Trading Up 9.4 %

The firm has a 50-day moving average of $14.20 and a 200 day moving average of $11.37. The stock has a market capitalization of $821.30 million, a price-to-earnings ratio of -4.58 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.18. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. The company had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. Equities research analysts predict that CareDx, Inc will post -1.49 EPS for the current fiscal year.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in CareDx by 8.7% in the first 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 during the period. Caxton Associates LP boosted its stake in CareDx by 97.2% during the 1st quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock valued at $1,020,000 after purchasing an additional 47,469 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of CareDx in the 1st quarter worth $13,025,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of CareDx by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after buying an additional 2,344 shares during the period.

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.