CareDx (NASDAQ:CDNA) Raised to “Buy” at StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other research firms have also weighed in on CDNA. Wells Fargo & Company began coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, August 19th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Craig Hallum lifted their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.60.

CareDx Trading Down 6.5 %

Shares of CDNA traded down $1.70 during midday trading on Thursday, hitting $24.48. The stock had a trading volume of 1,586,858 shares, compared to its average volume of 908,406. The business has a 50-day simple moving average of $29.74 and a two-hundred day simple moving average of $19.51. The firm has a market cap of $1.28 billion, a P/E ratio of -7.16 and a beta of 1.77. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) 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 firm had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. On average, analysts expect that CareDx will post -0.84 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred 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 directly owns 330,024 shares of the company’s stock, valued at $10,903,992.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CareDx

Institutional investors have recently modified their holdings of the company. ClariVest Asset Management LLC boosted its holdings in shares of CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after buying an additional 1,810 shares during the period. GAMMA Investing LLC lifted its position in CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after acquiring an additional 2,013 shares during the last quarter. nVerses Capital LLC boosted its holdings in CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after acquiring an additional 2,100 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of CareDx by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after purchasing an additional 2,344 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after purchasing an additional 2,503 shares during the period.

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.