HC Wainwright Reiterates “Neutral” Rating for CareDx (NASDAQ:CDNA)

HC Wainwright restated their neutral rating on shares of CareDx (NASDAQ:CDNA) in a research note published on Tuesday, Benzinga reports.

A number of other equities research analysts have also issued reports 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. Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Craig Hallum increased 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, The Goldman Sachs Group increased their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and an average price target of $30.60.

CareDx Stock Performance

NASDAQ:CDNA opened at $23.14 on Tuesday. The company has a fifty day moving average of $29.46 and a two-hundred day moving average of $19.97. The stock has a market capitalization of $1.21 billion, a PE ratio of -6.77 and a beta of 1.77. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates 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%. Research analysts forecast that CareDx will post -0.84 earnings per share for the current year.

Insider Transactions at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction dated Wednesday, August 21st. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. Millennium Management LLC raised its holdings in CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after purchasing an additional 1,960,308 shares in the last quarter. Bamco Inc. NY purchased a new position in shares of CareDx during the first quarter worth approximately $13,025,000. Fred Alger Management LLC grew its position in shares of CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after acquiring an additional 963,554 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of CareDx by 868.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after acquiring an additional 183,823 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in shares of CareDx during the second quarter worth approximately $2,852,000.

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.