HC Wainwright Reaffirms Neutral Rating for CareDx (NASDAQ:CDNA)

HC Wainwright reissued their neutral rating on shares of CareDx (NASDAQ:CDNA) in a research note published on Monday morning,Benzinga reports. The firm currently has a $25.00 target price on the stock.

CDNA has been the topic of several other research reports. Stephens reiterated an “overweight” rating and issued a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group lowered their target price on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

CareDx Stock Performance

CareDx stock opened at $15.17 on Monday. The stock has a market cap of $844.68 million, a PE ratio of -5.62 and a beta of 2.27. The stock has a 50-day moving average of $18.37 and a two-hundred day moving average of $21.36. CareDx has a one year low of $9.64 and a one year high of $34.84.

CareDx (NASDAQ:CDNA) last issued 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. The company had revenue of $84.69 million during the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. As a group, sell-side analysts predict that CareDx will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the sale, the director now owns 316,743 shares in the company, valued at $5,457,481.89. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently bought and sold shares of CDNA. Allianz Asset Management GmbH lifted its position in shares of CareDx by 145.4% in the first quarter. Allianz Asset Management GmbH now owns 117,075 shares of the company’s stock valued at $2,078,000 after acquiring an additional 69,359 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of CareDx during the first quarter worth $103,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of CareDx in the first quarter valued at about $2,236,000. Victory Capital Management Inc. purchased a new position in shares of CareDx in the first quarter worth about $1,329,000. Finally, CWM LLC boosted its position in CareDx by 23.0% during the first quarter. CWM LLC now owns 12,413 shares of the company’s stock worth $220,000 after acquiring an additional 2,319 shares during 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.