CareDx (NASDAQ:CDNA) Trading Up 4% – Should You Buy?

CareDx, Inc (NASDAQ:CDNA) traded up 4% during trading on Wednesday . The company traded as high as $23.65 and last traded at $23.62. 341,620 shares changed hands during trading, a decline of 20% from the average session volume of 425,421 shares. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BTIG Research lowered their price target on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their price objective on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

CareDx Stock Up 5.6 %

The company has a 50 day simple moving average of $22.89 and a 200-day simple moving average of $24.12. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -8.89 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) 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 analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) EPS. On average, equities research analysts expect that CareDx, Inc will post -0.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Peter Maag sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On CareDx

Large investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in CareDx in the third quarter worth about $27,000. Royce & Associates LP boosted its holdings in shares of CareDx by 0.3% in the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after acquiring an additional 1,000 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of CareDx by 37.8% in the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after acquiring an additional 1,540 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of CareDx during the third quarter valued at approximately $52,000. Finally, ClariVest Asset Management LLC raised its holdings in CareDx by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after purchasing an additional 1,810 shares in the last quarter.

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.