CareDx (NASDAQ:CDNA) Stock Rating Upgraded by StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other analysts have also recently issued reports on the company. Craig Hallum increased their price objective on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company began coverage on CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. Finally, BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.80.

CareDx Trading Up 0.6 %

Shares of NASDAQ CDNA opened at $28.87 on Tuesday. The stock has a fifty day simple moving average of $26.85 and a 200-day simple moving average of $17.43. CareDx has a twelve month low of $4.80 and a twelve month high of $34.84. The stock has a market capitalization of $1.52 billion, a PE ratio of -8.44 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.37. The company had revenue of $92.27 million during the quarter, compared to the consensus estimate of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, equities analysts predict that CareDx will post -0.84 earnings per share for the current year.

Insider Buying and Selling at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the sale, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the sale, the insider now 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 sold 91,340 shares of company stock worth $3,025,415 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after buying an additional 1,960,308 shares during the period. Bamco Inc. NY acquired a new stake in CareDx during the 1st quarter worth approximately $13,025,000. Fred Alger Management LLC grew its stake in shares of CareDx by 517.9% in the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after purchasing an additional 963,554 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of CareDx in the second quarter valued at approximately $2,852,000. Finally, Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 180,334 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.