CareDx (NASDAQ:CDNA) Downgraded by StockNews.com

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

CDNA has been the subject of several other reports. Craig Hallum upped their target price on CareDx from $22.00 to $32.00 and gave the stock a buy rating in a report on Thursday, August 1st. BTIG Research upgraded CareDx from a neutral rating to a buy rating and set a $40.00 target price for the company in a report on Monday, August 19th. The Goldman Sachs Group boosted their price target on CareDx from $16.00 to $26.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Wells Fargo & Company initiated coverage on CareDx in a research report on Tuesday, August 27th. They issued an underweight rating and a $28.00 price target for the company. Finally, HC Wainwright reissued 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, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CareDx presently has a consensus rating of Hold and a consensus price target of $28.80.

CareDx Stock Up 3.0 %

CDNA opened at $29.73 on Friday. The business has a fifty day moving average of $25.04 and a 200 day moving average of $16.61. CareDx has a 52-week low of $4.80 and a 52-week high of $34.84. The stock has a market cap of $1.57 billion, a P/E ratio of -8.69 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 company had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. Equities analysts anticipate that CareDx will post -0.84 EPS for the current fiscal year.

Insider Activity at CareDx

In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s 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 directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 approximately $9,284,746.14. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock valued at $3,025,415 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

A number of hedge funds have recently made changes to their positions in the company. Caxton Associates LP increased its stake in CareDx by 97.2% during the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after acquiring an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 during the last quarter. Bamco Inc. NY acquired a new stake in CareDx during the first quarter worth $13,025,000. Vanguard Group Inc. increased its stake in CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in CareDx by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock worth $1,294,000 after acquiring an additional 31,667 shares during 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.