Wells Fargo & Company Upgrades CareDx (NASDAQ:CDNA) to Equal Weight

Wells Fargo & Company upgraded shares of CareDx (NASDAQ:CDNA) from an underweight rating to an equal weight rating in a research note published on Wednesday, MarketBeat reports. They currently have $24.00 price target on the stock, down from their prior price target of $28.00.

Several other equities research analysts have also commented on CDNA. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research reduced their price target on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, HC Wainwright restated a “neutral” rating and issued a $26.00 price target on shares of CareDx in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

CareDx Price Performance

CareDx stock opened at $21.44 on Wednesday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -7.94 and a beta of 1.86. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The firm has a 50-day moving average of $22.90 and a two-hundred day moving average of $24.46.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS. Research analysts expect that CareDx will post -0.7 earnings per share for the current year.

Insider Buying and Selling

In other CareDx news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now owns 330,024 shares in the company, valued at approximately $8,250,600. This represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CDNA. Quarry LP acquired a new position in CareDx during the 3rd quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd acquired a new position in CareDx during the 3rd quarter valued at approximately $52,000. KBC Group NV acquired a new position in CareDx during the 3rd quarter valued at approximately $99,000. nVerses Capital LLC increased its stake in CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Quest Partners LLC increased its stake in CareDx by 37.8% during the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after purchasing an additional 1,540 shares in the last quarter.

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.