CareDx (NASDAQ:CDNA) Shares Up 4.3%

CareDx, Inc (NASDAQ:CDNA)’s share price rose 4.3% on Tuesday . The company traded as high as $28.63 and last traded at $28.60. Approximately 277,111 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 908,104 shares. The stock had previously closed at $27.43.

Analyst Ratings Changes

Several equities research analysts have weighed in on CDNA shares. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, August 19th. The Goldman Sachs Group increased their price objective on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company started coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.80.

CareDx Stock Up 3.2 %

The company has a 50 day moving average of $24.20 and a 200 day moving average of $16.15. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -8.35 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.37. The firm had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, research analysts forecast that CareDx, Inc will post -0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 over the last ninety days. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CareDx

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in CareDx by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,949 shares of the company’s stock worth $5,327,000 after purchasing an additional 33,767 shares during the period. BNP Paribas Financial Markets raised its position in shares of CareDx by 2.1% in the fourth quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock valued at $1,083,000 after purchasing an additional 1,876 shares during the period. First Eagle Investment Management LLC increased its stake in shares of CareDx by 12.5% in the fourth quarter. First Eagle Investment Management LLC now owns 1,131,207 shares of the company’s stock worth $13,574,000 after purchasing an additional 126,018 shares during the period. Quest Partners LLC acquired a new position in CareDx during the 4th quarter valued at $117,000. Finally, Bellevue Group AG increased its position in shares of CareDx by 0.4% during the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock valued at $47,458,000 after purchasing an additional 13,994 shares during the period.

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.