CareDx (NASDAQ:CDNA) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of CareDx (NASDAQ:CDNA) from an underweight rating to an equal weight rating in a research note released on Wednesday morning, MarketBeat.com reports. Wells Fargo & Company currently has $24.00 price objective on the stock, down from their prior price objective of $28.00.

CDNA has been the subject of a number of other reports. HC Wainwright reissued a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a research note on Tuesday. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BTIG Research cut their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.33.

CareDx Trading Down 2.8 %

CDNA opened at $21.44 on Wednesday. CareDx has a 1-year low of $7.42 and a 1-year high of $34.84. The company has a market capitalization of $1.15 billion, a PE ratio of -7.94 and a beta of 1.86. The firm’s 50 day simple moving average is $22.90 and its two-hundred day simple moving average is $24.46.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) earnings per share. Equities analysts forecast that CareDx will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at approximately $8,250,600. This trade represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of CareDx in the 3rd quarter worth about $27,000. Royce & Associates LP lifted its holdings in shares of CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after acquiring an additional 1,000 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after acquiring an additional 1,540 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of CareDx in the 3rd quarter worth about $52,000. Finally, nVerses Capital LLC lifted its holdings in shares of CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after acquiring an additional 2,100 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.