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

CareDx (NASDAQ:CDNA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

CDNA has been the subject of several other reports. Stephens lifted their price target on CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Craig Hallum raised their price objective on CareDx from $15.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 17th. Raymond James lowered CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Friday, May 31st. Finally, The Goldman Sachs Group lifted their price target on CareDx from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.50.

CareDx Stock Down 0.7 %

Shares of NASDAQ:CDNA opened at $13.97 on Wednesday. CareDx has a 52-week low of $4.80 and a 52-week high of $17.03. The stock has a market cap of $727.56 million, a price-to-earnings ratio of -4.08 and a beta of 1.77. The business has a 50-day moving average price of $12.34 and a 200-day moving average price of $10.92.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.18. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. The firm had revenue of $72.05 million during the quarter, compared to analysts’ expectations of $63.63 million. As a group, equities analysts anticipate that CareDx will post -1.49 EPS for the current fiscal year.

Institutional Trading of CareDx

A number of institutional investors have recently made changes to their positions in CDNA. Headlands Technologies LLC acquired a new position in CareDx during the fourth quarter worth $50,000. Nisa Investment Advisors LLC boosted its stake in CareDx by 442.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock worth $77,000 after buying an additional 5,253 shares during the last quarter. Quest Partners LLC acquired a new position in CareDx during the fourth quarter worth $117,000. WINTON GROUP Ltd acquired a new position in CareDx during the third quarter worth $72,000. Finally, Cetera Trust Company N.A acquired a new position in CareDx during the fourth quarter worth $142,000.

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.