StockNews.com Lowers CareDx (NASDAQ:CDNA) to Hold

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

A number of other research firms also recently weighed in on CDNA. Wells Fargo & Company started coverage on CareDx in a report on Tuesday, August 27th. They set an underweight rating and a $28.00 target price on the stock. 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 on the stock in a report on Monday, August 19th. HC Wainwright reiterated a neutral rating on shares of CareDx in a report on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on CareDx from $16.00 to $26.00 and gave the stock a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $28.80.

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $30.12 on Friday. CareDx has a 1 year low of $4.80 and a 1 year high of $34.84. The company has a market cap of $1.57 billion, a PE ratio of -8.81 and a beta of 1.77. The stock’s 50-day moving average is $25.35 and its 200 day moving average is $16.74.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $67.20 million. Analysts expect that CareDx will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter Maag sold 35,552 shares of the company’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 sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Peter Maag sold 35,552 shares of the company’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 transaction, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the company’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 value of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 in the last 90 days. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of CareDx during the 2nd quarter valued at about $62,000. Meeder Asset Management Inc. bought a new position in shares of CareDx in the 2nd quarter worth approximately $142,000. Quest Partners LLC purchased a new position in shares of CareDx in the fourth quarter worth approximately $117,000. Finally, Allspring Global Investments Holdings LLC grew its position in CareDx by 10,267.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after buying an additional 18,481 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.