CareDx (NASDAQ:CDNA) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a report released on Monday morning.

Other research analysts also recently issued reports about the company. HC Wainwright reissued a “neutral” rating and issued a $25.00 price objective on shares of CareDx in a research note on Monday. The Goldman Sachs Group decreased their price target on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Stephens restated an “overweight” rating and set a $40.00 target price on shares of CareDx in a research report on Monday. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $15.17 on Monday. CareDx has a 1 year low of $9.64 and a 1 year high of $34.84. The firm has a market cap of $844.68 million, a P/E ratio of -5.62 and a beta of 2.27. The stock has a fifty day moving average price of $18.37 and a two-hundred day moving average price of $21.36.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. CareDx’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, research analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at CareDx

In other CareDx news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director now owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its stake in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after purchasing an additional 3,322 shares in the last quarter. State of Wyoming bought a new position in CareDx in the fourth quarter valued at about $91,000. Morse Asset Management Inc bought a new position in CareDx in the first quarter valued at about $103,000. Finally, Plato Investment Management Ltd boosted its stake in shares of CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after purchasing an additional 1,370 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.