CareDx Inc (CDNA) Receives Average Rating of “Buy” from Brokerages

Shares of CareDx Inc (NASDAQ:CDNA) have earned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.88.

A number of brokerages recently issued reports on CDNA. ValuEngine upgraded CareDx from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. HC Wainwright began coverage on CareDx in a report on Monday, November 27th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Zacks Investment Research upgraded CareDx from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a report on Wednesday, January 10th.

In other CareDx news, COO Mitchell J. Nelles sold 10,948 shares of CareDx stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $7.17, for a total transaction of $78,497.16. Following the sale, the chief operating officer now directly owns 84,225 shares of the company’s stock, valued at approximately $603,893.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James P. Yee sold 29,197 shares of CareDx stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $7.00, for a total value of $204,379.00. Following the sale, the insider now directly owns 74,795 shares in the company, valued at $523,565. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CDNA. Trellus Management Company LLC bought a new stake in CareDx during the 3rd quarter valued at approximately $100,000. FNY Partners Fund LP bought a new stake in CareDx during the 4th quarter valued at approximately $102,000. Cambridge Investment Research Advisors Inc. bought a new stake in CareDx during the 3rd quarter valued at approximately $106,000. Wells Fargo & Company MN boosted its position in CareDx by 1,360.6% during the 4th quarter. Wells Fargo & Company MN now owns 16,636 shares of the company’s stock valued at $122,000 after acquiring an additional 15,497 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in CareDx during the 4th quarter valued at approximately $130,000. 23.36% of the stock is currently owned by institutional investors and hedge funds.

CareDx (NASDAQ CDNA) opened at $5.74 on Friday. CareDx has a twelve month low of $0.76 and a twelve month high of $7.98. The stock has a market capitalization of $166.76, a PE ratio of -3.17 and a beta of 0.70. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of -124.53.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. CareDx had a negative return on equity of 157.00% and a negative net margin of 84.14%. The company had revenue of $12.19 million for the quarter, compared to the consensus estimate of $12.05 million. The business’s quarterly revenue was down 2.3% on a year-over-year basis. equities analysts forecast that CareDx will post -0.83 earnings per share for the current year.

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CareDx Company Profile

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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