Fintel reports that on September 26, 2023, Stephens & Co. reiterated coverage of Caredx (NASDAQ:CDNA) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 49.67% Upside
As of August 31, 2023, the average one-year price target for Caredx is 11.02. The forecasts range from a low of 8.08 to a high of $13.65. The average price target represents an increase of 49.67% from its latest reported closing price of 7.36.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Caredx is 355MM, an increase of 14.75%. The projected annual non-GAAP EPS is -0.15.
What is the Fund Sentiment?
There are 352 funds or institutions reporting positions in Caredx. This is a decrease of 33 owner(s) or 8.57% in the last quarter. Average portfolio weight of all funds dedicated to CDNA is 0.08%, a decrease of 29.34%. Total shares owned by institutions decreased in the last three months by 6.02% to 67,955K shares. 
The put/call ratio of CDNA is 0.30, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 6,638K shares representing 12.25% ownership of the company. In it's prior filing, the firm reported owning 6,799K shares, representing a decrease of 2.43%. The firm decreased its portfolio allocation in CDNA by 12.54% over the last quarter.
ARKG - ARK Genomic Revolution ETF holds 6,595K shares representing 12.18% ownership of the company. In it's prior filing, the firm reported owning 6,395K shares, representing an increase of 3.04%. The firm decreased its portfolio allocation in CDNA by 32.72% over the last quarter.
Bellevue Group holds 3,716K shares representing 6.86% ownership of the company. In it's prior filing, the firm reported owning 3,439K shares, representing an increase of 7.46%. The firm decreased its portfolio allocation in CDNA by 1.21% over the last quarter.
Armistice Capital holds 3,324K shares representing 6.14% ownership of the company. In it's prior filing, the firm reported owning 3,136K shares, representing an increase of 5.66%. The firm decreased its portfolio allocation in CDNA by 0.95% over the last quarter.
XBI - SPDR(R) S&P(R) Biotech ETF holds 2,959K shares representing 5.46% ownership of the company. In it's prior filing, the firm reported owning 3,776K shares, representing a decrease of 27.61%. The firm decreased its portfolio allocation in CDNA by 27.46% over the last quarter.
Caredx Background Information
(This description is provided by the company.)
CareDx, Inc., headquartered in South San Francisco, California, is a leading precision medicine solutions company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. CareDx offers testing services, products, and digital healthcare solutions along the pre- and post-transplant patient journey and is the leading provider of genomics-based information for transplant patients.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
