CareDx (NASDAQ:CDNA) Price Target Lowered to $35.00 at BTIG Research

CareDx (NASDAQ:CDNA) had its price target lowered by BTIG Research from $40.00 to $35.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum boosted their price objective on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price for the company. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

CareDx Stock Down 1.0 %

Shares of CareDx stock opened at $23.65 on Tuesday. The firm has a market cap of $1.25 billion, a PE ratio of -8.76 and a beta of 1.80. CareDx has a 52 week low of $6.91 and a 52 week high of $34.84. The business’s fifty day simple moving average is $27.28 and its 200-day simple moving average is $21.10.

CareDx (NASDAQ:CDNA) last posted its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The company had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 54.34%. CareDx’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.43) earnings per share. As a group, equities analysts expect that CareDx will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter Maag sold 35,552 shares of the firm’s 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 approximately $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,340 shares of company stock worth $3,025,415 in the last quarter. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently added to or reduced their stakes in CDNA. Intech Investment Management LLC acquired a new stake in CareDx during the third quarter worth approximately $449,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CareDx by 78.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after buying an additional 306,222 shares during the last quarter. Quest Partners LLC raised its stake in CareDx by 37.8% during the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after acquiring an additional 1,540 shares in the last quarter. Royce & Associates LP raised its stake in CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after acquiring an additional 1,000 shares in the last quarter. Finally, KBC Group NV purchased a new stake in CareDx in the third quarter valued at $99,000.

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.