CareDx (NASDAQ:CDNA) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a report published on Thursday.

Several other equities research analysts have also weighed in on the company. BTIG Research upgraded CareDx from a neutral rating to a buy rating and set a $40.00 target price for the company in a report on Monday, August 19th. Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They issued an underweight rating and a $28.00 target price for the company. HC Wainwright restated a neutral rating on shares of CareDx in a report on Thursday, August 1st. Craig Hallum upped their price target on CareDx from $22.00 to $32.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $28.80.

CareDx Price Performance

Shares of CareDx stock opened at $30.73 on Thursday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -8.99 and a beta of 1.78. CareDx has a 52-week low of $4.80 and a 52-week high of $34.84. The stock has a 50-day simple moving average of $22.03 and a 200-day simple moving average of $15.08.

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

Insider Activity

In other news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CareDx news, Director Peter Maag sold 35,552 shares of the company’s 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 sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s 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 completion of the sale, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,340 shares of company stock worth $3,025,415. Company insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of CareDx during the fourth quarter worth $50,000. Plato Investment Management Ltd bought a new stake in shares of CareDx during the second quarter worth $62,000. Quest Partners LLC bought a new stake in shares of CareDx during the fourth quarter worth $117,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of CareDx during the second quarter worth $142,000.

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.