CareDx (NASDAQ:CDNA) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other research analysts have also recently commented on CDNA. Raymond James cut CareDx from an outperform rating to a market perform rating in a research note on Monday, May 13th. Stephens increased their price target on CareDx from $15.00 to $18.00 and gave the company an overweight rating in a research note on Monday, May 13th. Craig Hallum increased their price target on CareDx from $15.00 to $22.00 and gave the company a buy rating in a research note on Friday, May 17th. The Goldman Sachs Group increased their price target on CareDx from $10.00 to $14.00 and gave the company a buy rating in a research note on Monday, May 13th. Finally, HC Wainwright restated a neutral rating on shares of CareDx in a report on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $16.50.

CareDx Price Performance

NASDAQ CDNA opened at $14.07 on Wednesday. The business has a fifty day moving average price of $12.24 and a two-hundred day moving average price of $10.90. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $17.03. The stock has a market capitalization of $732.77 million, a PE ratio of -4.11 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.18. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. The company had revenue of $72.05 million during the quarter, compared to analysts’ expectations of $63.63 million. As a group, sell-side analysts expect that CareDx will post -1.49 earnings per share for the current year.

Institutional Trading of CareDx

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC increased its holdings in CareDx by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares during the period. Vanguard Group Inc. grew its holdings in CareDx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 shares during the period. Bellevue Group AG grew its holdings in CareDx by 0.4% during the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after acquiring an additional 13,994 shares during the period. Gagnon Securities LLC grew its holdings in CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after acquiring an additional 149,485 shares during the period. Finally, Kent Lake Capital LLC acquired a new stake in CareDx during the 3rd quarter worth about $9,628,000.

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.