CareDx (NASDAQ:CDNA) has been assigned a $28.00 target price by investment analysts at HC Wainwright in a report issued on Monday, November 12th. The brokerage currently has a “hold” rating on the stock. HC Wainwright’s price target points to a potential upside of 0.83% from the company’s current price.
Several other equities analysts have also recently issued reports on CDNA. BidaskClub raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. Zacks Investment Research cut CareDx from a “buy” rating to a “sell” rating in a research report on Wednesday, August 15th. Piper Jaffray Companies upped their price objective on CareDx to $42.00 in a research report on Wednesday, September 5th. Craig Hallum set a $35.00 price objective on CareDx and gave the company a “buy” rating in a research report on Wednesday, October 3rd. Finally, Raymond James reiterated a “strong-buy” rating and set a $30.00 target price on shares of CareDx in a research note on Tuesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $30.80.
Shares of CDNA traded down $2.25 during mid-day trading on Monday, reaching $27.77. The company had a trading volume of 885,434 shares, compared to its average volume of 693,872. The company has a quick ratio of 2.36, a current ratio of 2.65 and a debt-to-equity ratio of 0.30. CareDx has a 52 week low of $4.92 and a 52 week high of $30.80. The stock has a market cap of $1.14 billion, a P/E ratio of -36.06 and a beta of 1.07.
CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.42). CareDx had a negative return on equity of 125.24% and a negative net margin of 113.89%. The company had revenue of $21.18 million during the quarter, compared to the consensus estimate of $18.47 million. On average, equities analysts anticipate that CareDx will post -1.32 EPS for the current year.
In other news, CFO Michael Brian Bell sold 16,355 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $25.06, for a total value of $409,856.30. Following the completion of the sale, the chief financial officer now directly owns 52,238 shares in the company, valued at approximately $1,309,084.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Neil Gagnon sold 108,599 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $27.05, for a total value of $2,937,602.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 286,454 shares of company stock valued at $7,807,359. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new position in CareDx in the 2nd quarter worth $116,000. Meeder Asset Management Inc. bought a new position in CareDx in the 3rd quarter worth $124,000. Metropolitan Life Insurance Co. NY bought a new position in CareDx in the 2nd quarter worth $139,000. Voya Investment Management LLC bought a new position in CareDx in the 2nd quarter worth $153,000. Finally, Fox Run Management L.L.C. bought a new position in CareDx in the 2nd quarter worth $178,000. 77.04% of the stock is owned by institutional investors.
CareDx Company Profile
CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.
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