StockNews.com Downgrades CareDx (NASDAQ:CDNA) to Hold

StockNews.com cut shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on the stock. HC Wainwright reaffirmed a neutral rating on shares of CareDx in a report on Thursday, August 1st. Wells Fargo & Company began coverage on CareDx in a research note on Tuesday, August 27th. They issued an underweight rating and a $28.00 price objective for the company. 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. 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 research note on Thursday, August 1st. Finally, Craig Hallum lifted their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a buy rating in a research report on Thursday, August 1st. One 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 company presently has an average rating of Hold and a consensus target price of $28.80.

CareDx Stock Up 1.3 %

Shares of CDNA opened at $30.12 on Friday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -8.81 and a beta of 1.77. The business has a 50-day simple moving average of $25.35 and a two-hundred day simple moving average of $16.74.

CareDx (NASDAQ:CDNA) last issued its quarterly 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 for the quarter, compared to the consensus estimate 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 analysts anticipate 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 the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $33.55, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other CareDx 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 of the company’s stock, valued at $10,903,992.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $1,148,450.05. Following the completion of the sale, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,340 shares of company stock valued at $3,025,415. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several large investors have recently modified their holdings of CDNA. GAMMA Investing LLC lifted its position in CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of CareDx in the second quarter valued at $62,000. Quest Partners LLC bought a new stake in shares of CareDx in the 4th quarter worth about $117,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx during the 2nd quarter worth about $142,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CareDx by 10,267.2% during the 1st 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.

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.