CareDx (NASDAQ:CDNA) Upgraded at StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a research note published on Thursday morning.

Several other research firms also recently issued reports on CDNA. Wells Fargo & Company assumed coverage on CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective on the stock. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, August 19th. The Goldman Sachs Group boosted their price objective on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. 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 note on Thursday, August 1st. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.60.

CareDx Stock Down 2.0 %

CareDx stock opened at $23.98 on Thursday. The stock has a 50-day simple moving average of $29.62 and a 200 day simple moving average of $19.71. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -7.01 and a beta of 1.77. CareDx has a 12-month low of $4.80 and a 12-month high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data 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. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The firm had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. As a group, sell-side analysts anticipate that CareDx will post -0.84 EPS for the current year.

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock worth $3,025,415 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CareDx

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caxton Associates LP boosted its position in CareDx by 97.2% during the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock valued at $1,020,000 after purchasing an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CareDx by 87.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after buying an additional 106,660 shares in the last quarter. Renaissance Technologies LLC increased its holdings in CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after buying an additional 88,100 shares during the last quarter. Bamco Inc. NY acquired a new stake in CareDx in the first quarter valued at $13,025,000. Finally, Vanguard Group Inc. lifted its stake in CareDx by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock valued at $45,537,000 after acquiring 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.