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

CareDx (NASDAQ:CDNA) had its price objective reduced by BTIG Research from $40.00 to $35.00 in a report issued on Tuesday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. 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 for the company. Craig Hallum boosted their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Trading Up 2.9 %

CareDx stock opened at $23.88 on Tuesday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.84 and a beta of 1.80. The firm’s fifty day moving average price is $27.42 and its two-hundred day moving average price is $20.99. CareDx has a 1-year low of $6.11 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11. The business 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%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.43) EPS. On average, research analysts forecast that CareDx will post -0.83 EPS for the current year.

Insider Transactions at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of the company’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 transaction of $702,327.06. Following the sale, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 in the last quarter. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently made changes to their positions in CDNA. Vanguard Group Inc. raised its stake in shares of CareDx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock valued at $45,537,000 after purchasing an additional 180,334 shares during the period. Gagnon Securities LLC lifted its holdings in shares of CareDx by 7.1% in the first quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after buying an additional 149,485 shares in the last quarter. Millennium Management LLC boosted its position in shares of CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares during the period. Renaissance Technologies LLC grew its stake in CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after acquiring an additional 88,100 shares in the last quarter. Finally, Bamco Inc. NY bought a new stake in CareDx during the 1st quarter worth approximately $13,025,000.

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.