CareDx (NASDAQ:CDNA) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a research report report published on Wednesday morning.

A number of other research firms also recently commented on CDNA. BTIG Research raised shares of CareDx from a neutral rating to a buy rating and set a $40.00 target price on the stock in a research report on Monday, August 19th. The Goldman Sachs Group raised their target price on shares of CareDx from $16.00 to $26.00 and gave the company a buy rating in a research report on Thursday, August 1st. Craig Hallum raised their target price on shares of CareDx from $22.00 to $32.00 and gave the company a buy rating in a research report on Thursday, August 1st. HC Wainwright reissued a neutral rating on shares of CareDx in a research report on Thursday, August 1st. Finally, Wells Fargo & Company began coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an underweight rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CareDx currently has a consensus rating of Hold and a consensus price target of $28.80.

CareDx Price Performance

CDNA stock opened at $30.91 on Wednesday. CareDx has a 1-year low of $4.80 and a 1-year high of $34.84. The business has a 50-day moving average price of $28.52 and a 200 day moving average price of $18.42. The company has a market capitalization of $1.61 billion, a P/E ratio of -9.04 and a beta of 1.77.

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

Insider Transactions 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 transaction of $1,174,638.08. Following the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,340 shares of company stock valued at $3,025,415 in the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. Bellevue Group AG lifted its stake in CareDx by 0.4% during the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock valued at $47,458,000 after acquiring an additional 13,994 shares during the period. Bullseye Asset Management LLC lifted its stake in CareDx by 2.9% during the 4th quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock valued at $2,098,000 after acquiring an additional 5,000 shares during the period. Los Angeles Capital Management LLC lifted its stake in CareDx by 9.2% during the 1st quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock valued at $2,743,000 after acquiring an additional 21,892 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in CareDx by 10,267.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after acquiring an additional 18,481 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in CareDx by 87.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after acquiring an additional 106,660 shares during the period.

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.