CareDx (NASDAQ:CDNA) Downgraded by BidaskClub

BidaskClub downgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

Several other equities analysts also recently weighed in on CDNA. Craig Hallum set a $48.00 price target on shares of CareDx and gave the stock a positive rating in a research note on Thursday, July 11th. Raymond James raised their price target on shares of CareDx from $46.00 to $48.00 and gave the stock a strong-buy rating in a research note on Friday, August 2nd. Piper Jaffray Companies raised their price target on shares of CareDx from $50.00 to $63.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. TheStreet downgraded shares of CareDx from a c rating to a d rating in a research note on Thursday, May 23rd. Finally, HC Wainwright reissued a buy rating on shares of CareDx in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. CareDx presently has an average rating of Buy and a consensus target price of $44.00.

CDNA opened at $23.63 on Wednesday. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -18.04 and a beta of 0.90. CareDx has a 52-week low of $16.53 and a 52-week high of $41.27. The firm’s fifty day simple moving average is $32.68 and its two-hundred day simple moving average is $31.77.



CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The company had revenue of $31.45 million for the quarter, compared to analysts’ expectations of $27.96 million. CareDx had a negative net margin of 38.29% and a negative return on equity of 47.53%. As a group, sell-side analysts expect that CareDx will post -0.7 earnings per share for the current fiscal year.

In other CareDx news, CFO Michael Brian Bell sold 2,202 shares of CareDx stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $32.10, for a total transaction of $70,684.20. Following the transaction, the chief financial officer now directly owns 77,930 shares of the company’s stock, valued at $2,501,553. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Maag sold 50,000 shares of CareDx stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $28.84, for a total transaction of $1,442,000.00. Following the transaction, the chief executive officer now directly owns 379,049 shares in the company, valued at $10,931,773.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,286 shares of company stock worth $4,843,989. Insiders own 3.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Aperio Group LLC purchased a new position in CareDx during the second quarter worth about $31,000. Covenant Multifamily Offices LLC purchased a new position in CareDx during the first quarter worth about $32,000. Stonebridge Capital Advisors LLC purchased a new position in CareDx during the second quarter worth about $36,000. Pearl River Capital LLC purchased a new position in CareDx during the first quarter worth about $48,000. Finally, First Quadrant L P CA purchased a new position in CareDx during the second quarter worth about $63,000. 89.13% of the stock is currently owned by institutional investors.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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