CareDx (NASDAQ:CDNA) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Several other equities analysts also recently commented on CDNA. Wells Fargo & Company began coverage on CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, August 19th. The Goldman Sachs Group lifted their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Craig Hallum upped their price target on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

CareDx Price Performance

Shares of CareDx stock opened at $23.98 on Thursday. The business has a fifty day simple moving average of $29.62 and a two-hundred day simple moving average of $19.71. CareDx has a 1 year low of $4.80 and a 1 year high of $34.84. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.01 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last posted its earnings results 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 net margin of 53.73% and a negative return on equity of 53.65%. The company had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. As a group, equities analysts anticipate that CareDx will post -0.84 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other CareDx 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 directly owns 284,983 shares in the company, valued at $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the business’s 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 transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. This trade represents a 0.00 % decrease in their position. 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 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CDNA. Los Angeles Capital Management LLC boosted its stake in shares of CareDx by 9.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock valued at $2,743,000 after purchasing an additional 21,892 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 18,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 106,660 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of CareDx during the first quarter worth $238,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of CareDx by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock valued at $1,294,000 after acquiring an additional 31,667 shares during the last quarter.

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.