CareDx (NASDAQ:CDNA) Upgraded at StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other analysts also recently issued reports on the stock. BTIG Research lowered their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, HC Wainwright restated a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and an average price target of $32.00.

CareDx Stock Down 0.2 %

Shares of CareDx stock opened at $21.06 on Wednesday. The company has a market capitalization of $1.13 billion, a P/E ratio of -7.80 and a beta of 1.87. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The company has a 50 day moving average of $22.65 and a 200 day moving average of $25.29.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $1.46. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $84.56 million. As a group, research analysts anticipate that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDNA. Quarry LP bought a new stake in CareDx in the third quarter valued at $27,000. Sterling Capital Management LLC raised its position in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after purchasing an additional 1,126 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of CareDx during the third quarter worth about $52,000. Tower Research Capital LLC TRC grew its holdings in shares of CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after buying an additional 3,322 shares in the last quarter. Finally, State of Wyoming bought a new position in CareDx in the fourth quarter valued at approximately $91,000.

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.