CareDx (NASDAQ:CDNA) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of CareDx (NASDAQ:CDNA) in a research note published on Tuesday morning, Benzinga reports. The firm issued an underweight rating and a $28.00 price objective on the stock.

Several other analysts also recently weighed in on CDNA. BTIG Research raised CareDx from a neutral rating to a buy rating and set a $40.00 target price on the stock in a research note on Monday, August 19th. Craig Hallum lifted their target price on CareDx from $22.00 to $32.00 and gave the company a buy rating in a research note on Thursday, August 1st. HC Wainwright reaffirmed a neutral rating on shares of CareDx in a research note on Thursday, August 1st. Raymond James downgraded CareDx from an outperform rating to a market perform rating in a research note on Monday, May 13th. Finally, StockNews.com raised CareDx from a hold rating to a buy rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $28.80.

CareDx Price Performance

NASDAQ:CDNA opened at $31.80 on Tuesday. CareDx has a 12-month low of $4.80 and a 12-month high of $34.84. The firm has a market capitalization of $1.66 billion, a P/E ratio of -9.30 and a beta of 1.78. The business has a 50 day simple moving average of $21.03 and a 200 day simple moving average of $14.61.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.37. The firm 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%. Research analysts anticipate that CareDx will post -1.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter Maag sold 35,552 shares of CareDx 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 transaction, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 in the last three months. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CDNA. ClariVest Asset Management LLC increased its holdings in shares of CareDx by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after purchasing an additional 1,810 shares during the period. BNP Paribas Financial Markets increased its stake in CareDx by 2.1% in the 4th quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock valued at $1,083,000 after buying an additional 1,876 shares during the period. GAMMA Investing LLC lifted its position in CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after buying an additional 2,344 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CareDx by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock valued at $329,000 after buying an additional 2,503 shares during the period.

CareDx Company Profile

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.