CareDx (NASDAQ:CDNA) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a report issued on Friday.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of CareDx from $16.00 to $26.00 and gave the company a buy rating in a research note on Thursday, August 1st. BTIG Research raised CareDx from a neutral rating to a buy rating and set a $40.00 price target for the company in a research note on Monday, August 19th. Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an underweight rating and a $28.00 price objective for the company. HC Wainwright reaffirmed a neutral rating on shares of CareDx in a research report on Thursday, August 1st. Finally, Craig Hallum boosted their price target on CareDx from $22.00 to $32.00 and gave the company a buy rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $28.80.

CareDx Stock Performance

Shares of NASDAQ:CDNA opened at $27.10 on Friday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -7.92 and a beta of 1.78. The firm has a fifty day moving average price of $23.18 and a 200 day moving average price of $15.55. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. The business had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. As a group, research analysts predict that CareDx will post -0.84 earnings per share for the current year.

Insider Buying and Selling at CareDx

In related news, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CareDx

A number of institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of CareDx by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,949 shares of the company’s stock valued at $5,327,000 after purchasing an additional 33,767 shares during the period. BNP Paribas Financial Markets increased its stake in shares of CareDx by 2.1% in the fourth quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock worth $1,083,000 after acquiring an additional 1,876 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of CareDx by 12.5% during the fourth quarter. First Eagle Investment Management LLC now owns 1,131,207 shares of the company’s stock worth $13,574,000 after purchasing an additional 126,018 shares during the last quarter. Quest Partners LLC purchased a new stake in CareDx in the fourth quarter valued at $117,000. Finally, Bellevue Group AG grew its position 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 purchasing an additional 13,994 shares during the period.

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.