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

StockNews.com cut shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a report issued on Wednesday morning.

A number of other equities analysts have also issued reports on CDNA. Craig Hallum increased their price objective on CareDx from $22.00 to $32.00 and gave the stock a buy rating in a report on Thursday, August 1st. BTIG Research raised CareDx from a neutral rating to a buy rating and set a $40.00 price target for the company in a research note on Monday, August 19th. The Goldman Sachs Group increased their price target on CareDx from $16.00 to $26.00 and gave the company a buy rating in a research note on Thursday, August 1st. Wells Fargo & Company assumed coverage on CareDx in a research note on Tuesday, August 27th. They set an underweight rating and a $28.00 price target for the company. Finally, HC Wainwright reaffirmed a neutral rating on shares of CareDx in a research note 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $28.80.

CareDx Trading Up 0.7 %

Shares of CareDx stock opened at $31.15 on Wednesday. The business’s 50 day simple moving average is $27.80 and its 200-day simple moving average is $18.03. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -9.11 and a beta of 1.77. CareDx has a twelve month low of $4.80 and a twelve month high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts predict that CareDx will post -0.84 earnings per share for the current year.

Insider Transactions at CareDx

In other news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Maag sold 35,552 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock valued at $3,025,415 in the last three months. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CareDx

A number of hedge funds have recently modified their holdings of CDNA. Bellevue Group AG lifted its holdings in shares of CareDx by 0.4% in the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock valued at $47,458,000 after purchasing an additional 13,994 shares in the last quarter. Bullseye Asset Management LLC raised its holdings in shares of CareDx by 2.9% during the fourth quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock worth $2,098,000 after acquiring an additional 5,000 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of CareDx by 9.2% during the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock worth $2,743,000 after acquiring an additional 21,892 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 acquiring an additional 18,481 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 acquiring an additional 106,660 shares in the last quarter.

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.