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

CareDx (NASDAQ:CDNA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also recently issued reports on CDNA. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, August 19th. Craig Hallum upped their target price on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company initiated coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.80.

CareDx Stock Performance

CDNA stock traded up $0.85 during mid-day trading on Tuesday, reaching $28.70. 855,118 shares of the stock traded hands, compared to its average volume of 899,519. The business has a 50-day moving average price of $26.64 and a two-hundred day moving average price of $17.35. The stock has a market capitalization of $1.49 billion, a PE ratio of -8.39 and a beta of 1.77. CareDx has a one year low of $4.80 and a one year high of $34.84.

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

Insider Transactions at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction that occurred on 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 owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,340 shares of company stock valued at $3,025,415. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. Vanguard Group Inc. grew its stake in shares of CareDx by 4.4% during the first 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 last quarter. Bellevue Group AG boosted its stake in CareDx by 0.4% in 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 in the last quarter. Gagnon Securities LLC grew its position 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 purchasing an additional 149,485 shares during the last quarter. Millennium Management LLC increased its stake in CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after purchasing an additional 1,960,308 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after buying an additional 88,100 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.