CareDx (NASDAQ:CDNA) Stock Rating Upgraded by StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other analysts have also issued reports on the stock. Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. BTIG Research raised 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. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Craig Hallum raised their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given 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 a consensus target price of $30.60.

CareDx Price Performance

NASDAQ CDNA opened at $23.98 on Thursday. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.01 and a beta of 1.77. The company’s fifty day moving average is $29.62 and its two-hundred day moving average is $19.64. CareDx has a 52-week low of $4.80 and a 52-week high of $34.84.

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

Insider Activity at CareDx

In related news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at $10,903,992.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 in the last ninety days. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Institutional investors have recently modified their holdings of the stock. Caxton Associates LP raised its stake in shares of CareDx by 97.2% in the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after acquiring an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CareDx by 87.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock worth $2,417,000 after acquiring an additional 106,660 shares during the last quarter. Renaissance Technologies LLC raised its stake 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 acquiring an additional 88,100 shares during the last quarter. Bamco Inc. NY bought a new position in shares of CareDx in the first quarter worth about $13,025,000. Finally, Vanguard Group Inc. raised its stake in shares of CareDx by 4.4% in 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.

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.