The Goldman Sachs Group Lowers CareDx (NASDAQ:CDNA) Price Target to $26.00

CareDx (NASDAQ:CDNA) had its price objective lowered by analysts at The Goldman Sachs Group from $34.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 46.65% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a report on Thursday, February 27th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. HC Wainwright cut their price target on CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.33.

CareDx Trading Down 2.7 %

CDNA stock traded down $0.49 on Thursday, hitting $17.73. The company had a trading volume of 247,157 shares, compared to its average volume of 854,920. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The stock has a market cap of $982.65 million, a price-to-earnings ratio of -6.58 and a beta of 2.18. The stock’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $22.56.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.05 by $1.46. The company had revenue of $86.58 million during the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. Research analysts forecast that CareDx will post -0.9 earnings per share for the current year.

Institutional Trading of CareDx

Hedge funds have recently made changes to their positions in the business. Divisadero Street Capital Management LP purchased a new position in shares of CareDx in the 4th quarter worth approximately $15,239,000. Jacobs Levy Equity Management Inc. boosted its stake in CareDx by 52.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock worth $26,625,000 after buying an additional 428,864 shares during the period. Lord Abbett & CO. LLC bought a new position in CareDx during the third quarter valued at $10,873,000. Bamco Inc. NY raised its stake in shares of CareDx by 17.6% in the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after acquiring an additional 330,627 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock worth $104,047,000 after acquiring an additional 323,554 shares during 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.