CareDx, Inc. (NASDAQ:CDNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, September 12th. The firm currently has a $3.25 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 5.52% from the company’s previous close.
According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “
Separately, ValuEngine upgraded shares of CareDx from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 24th.
CareDx (CDNA) traded up 3.70% during trading on Tuesday, hitting $3.08. The stock had a trading volume of 321,125 shares. The company’s market cap is $69.43 million. CareDx has a 52-week low of $0.76 and a 52-week high of $4.08. The firm’s 50-day moving average price is $2.27 and its 200-day moving average price is $1.51.
CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.19). CareDx had a negative net margin of 61.27% and a negative return on equity of 85.68%. The firm had revenue of $12.05 million for the quarter, compared to analyst estimates of $11.87 million. Analysts predict that CareDx will post ($0.82) EPS for the current fiscal year.
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In related news, major shareholder Neil Gagnon purchased 35,119 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were bought at an average price of $2.92 per share, for a total transaction of $102,547.48. Following the acquisition, the insider now directly owns 890,473 shares in the company, valued at $2,600,181.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders acquired 67,682 shares of company stock worth $188,025. 5.40% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Stonepine Capital Management LLC acquired a new position in shares of CareDx during the 2nd quarter valued at $212,000. Royce & Associates LP lifted its holdings in shares of CareDx by 23.5% during the 1st quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock valued at $737,000 after acquiring an additional 100,111 shares in the last quarter. Finally, Gagnon Securities LLC lifted its holdings in shares of CareDx by 12.8% during the 1st quarter. Gagnon Securities LLC now owns 2,026,338 shares of the company’s stock valued at $2,837,000 after acquiring an additional 230,494 shares in the last quarter. Institutional investors and hedge funds own 29.15% of the company’s stock.
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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