According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “
Several other research firms have also commented on CDNA. Piper Jaffray Companies raised their target price on Beigene to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. HC Wainwright increased their price target on Palatin Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet downgraded ZovioInc . from a “c-” rating to a “d” rating in a research report on Thursday, May 23rd. Finally, Craig Hallum set a $48.00 price target on CareDx and gave the stock a “positive” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. CareDx currently has an average rating of “Buy” and a consensus target price of $41.50.
CareDx stock traded down $0.32 during midday trading on Tuesday, hitting $32.70. 838,153 shares of the company were exchanged, compared to its average volume of 865,989. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -24.96 and a beta of 0.91. CareDx has a fifty-two week low of $11.93 and a fifty-two week high of $41.27. The stock’s fifty day simple moving average is $36.13.
CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The company had revenue of $25.98 million for the quarter, compared to analyst estimates of $24.27 million. CareDx had a negative return on equity of 52.93% and a negative net margin of 51.21%. As a group, research analysts forecast that CareDx will post -0.53 earnings per share for the current year.
In other news, insider Sasha King sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.50, for a total value of $36,875.00. Following the transaction, the insider now owns 77,427 shares in the company, valued at $2,284,096.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Brian Bell sold 14,702 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $38.81, for a total value of $570,584.62. Following the completion of the transaction, the chief financial officer now owns 71,734 shares in the company, valued at approximately $2,783,996.54. The disclosure for this sale can be found here. Insiders have sold 188,430 shares of company stock worth $6,410,528 in the last quarter. 3.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. BlackRock Inc. lifted its position in CareDx by 7.0% during the fourth quarter. BlackRock Inc. now owns 2,491,800 shares of the company’s stock worth $62,644,000 after buying an additional 162,939 shares in the last quarter. Northern Trust Corp lifted its position in CareDx by 6.0% during the fourth quarter. Northern Trust Corp now owns 439,231 shares of the company’s stock worth $11,042,000 after buying an additional 24,677 shares in the last quarter. Geode Capital Management LLC lifted its position in CareDx by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 399,668 shares of the company’s stock worth $10,047,000 after buying an additional 42,944 shares in the last quarter. Redwood Investments LLC purchased a new position in CareDx during the first quarter worth approximately $11,236,000. Finally, Cortina Asset Management LLC lifted its position in CareDx by 27.5% during the second quarter. Cortina Asset Management LLC now owns 279,306 shares of the company’s stock worth $10,052,000 after buying an additional 60,254 shares in the last quarter. Institutional investors and hedge funds own 88.87% of the company’s stock.
CareDx Company Profile
CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.
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