CareDx (NASDAQ:CDNA) Rating Lowered to Hold at StockNews.com

CareDx (NASDAQ:CDNA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other research analysts have also issued reports about the stock. Craig Hallum boosted their price objective 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. The Goldman Sachs Group lifted their price target on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. HC Wainwright restated a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. Finally, Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.80.

CareDx Stock Down 1.0 %

CDNA stock opened at $30.93 on Wednesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -9.04 and a beta of 1.77. CareDx has a twelve month low of $4.80 and a twelve month high of $34.84. The business has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $17.89.

CareDx (NASDAQ:CDNA) last released 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 business had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. On average, equities research analysts anticipate that CareDx will post -0.84 EPS for the current fiscal year.

Insider Transactions at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the 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 in the company, valued at $9,284,746.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. 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 the firm’s stock in a transaction dated Tuesday, August 20th. The stock was 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 in the company, valued at $10,903,992.96. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 over the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNA. Bellevue Group AG increased its stake 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. Bullseye Asset Management LLC increased its position in shares of CareDx by 2.9% in the fourth quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock worth $2,098,000 after purchasing an additional 5,000 shares during the period. Los Angeles Capital Management LLC raised its stake in CareDx by 9.2% in the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock valued at $2,743,000 after purchasing an additional 21,892 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in CareDx by 10,267.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after purchasing an additional 18,481 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock worth $2,417,000 after purchasing an additional 106,660 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.