CareDx Inc [CDNA] stock Initiated by Stephens analyst, price target now $50

CareDx Inc [NASDAQ: CDNA] closed the trading session at $13.10 on 11/10/22. The day’s price range saw the stock hit a low of $12.27, while the highest price level was $16.02. The company report on November 4, 2022 that CareDx To Participate in Upcoming Investor Conferences.


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CareDx, Inc. (Nasdaq: CDNA) – The Transplant Company™ focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers – today announced that the Company will participate in two upcoming investor conferences.

CareDx’s management is scheduled to present at the Credit Suisse 31st Annual Healthcare Conference on Wednesday, November 9th, 2022, at 1:25 PM ET. To listen to the webcast, please visit the investor relations section of CareDx’s website at: investors.caredxinc.com.

The stocks have a year to date performance of -71.20 percent and weekly performance of -30.06 percent. The stock has been moved at -44.11 percent over the last six months. The stock has performed -23.66 percent around the most recent 30 days and changed -44.70 percent over the most recent 3-months.

If compared to the average trading volume of 841.54K shares, CDNA reached to a volume of 4277353 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about CareDx Inc [CDNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDNA shares is $35.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDNA stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for CareDx Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 25, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on July 20, 2021, representing the official price target for CareDx Inc stock. Previously, the target price had yet another raise to $95, while Goldman analysts kept a Buy rating on CDNA stock.

The Average True Range (ATR) for CareDx Inc is set at 1.48, with the Price to Sales ratio for CDNA stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 5.77.

CDNA stock trade performance evaluation

CareDx Inc [CDNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.06. With this latest performance, CDNA shares dropped by -23.66% in over the last four-week period, additionally sinking by -44.11% over the last 6 months – not to mention a drop of -72.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDNA stock in for the last two-week period is set at 30.00, with the RSI for the last a single of trading hit 23.49, and the three-weeks RSI is set at 34.05 for CareDx Inc [CDNA]. The present Moving Average for the last 50 days of trading for this stock 17.57, while it was recorded at 15.25 for the last single week of trading, and 26.60 for the last 200 days.

CareDx Inc [CDNA]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CareDx Inc [CDNA] shares currently have an operating margin of -9.93 and a Gross Margin at +66.60. CareDx Inc’s Net Margin is presently recorded at -10.34.

Return on Equity for this stock declined to -8.25, with Return on Assets sitting at -6.41.

CareDx Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.10.

Earnings per share (EPS) analysis for CareDx Inc [CDNA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CareDx Inc go to 20.00%.

CareDx Inc [CDNA]: Insider Ownership positions

There are presently around $763 million, in the hands of institutional investors. The top three institutional holders of CDNA stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 5,787,120, which is approximately 44.843% of the company’s market cap and around 2.30% of the total institutional ownership; VANGUARD GROUP INC, holding 4,985,197 shares of the stock with an approximate value of $65.31 million in CDNA stocks shares; and STATE STREET CORP, currently with $55.21 million in CDNA stock with ownership of nearly 38.614% of the company’s market capitalization.

Positions in CareDx Inc stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 106 institutional holders increased their position in CareDx Inc [NASDAQ:CDNA] by around 8,496,140 shares. Additionally, 94 investors decreased positions by around 7,638,779 shares, while 25 investors held positions by with 42,115,206 shares. The mentioned changes placed institutional holdings at 58,250,125 shares, according to the latest SEC report filing. CDNA stock had 27 new institutional investments in for a total of 670,612 shares, while 36 institutional investors sold positions of 2,893,899 shares during the same period.

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