CareDx (NASDAQ:CDNA) Upgraded by BidaskClub to Sell

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

Several other research analysts have also commented on the stock. HC Wainwright set a $43.00 price objective on shares of CareDx and gave the company a buy rating in a research note on Friday, August 23rd. 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. Piper Jaffray Companies set a $63.00 price target on shares of CareDx and gave the stock a buy rating in a research note on Thursday, August 22nd. TheStreet downgraded shares of CareDx from a c rating to a d rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded shares of CareDx from a sell rating to a hold rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $44.00.

NASDAQ CDNA opened at $24.06 on Thursday. The firm has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $30.98. CareDx has a one year low of $19.11 and a one year high of $41.27. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -18.37 and a beta of 1.04.



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

In related news, CEO Peter Maag sold 50,000 shares of CareDx stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.84, for a total value of $1,442,000.00. Following the completion of the transaction, the chief executive officer now owns 379,049 shares in the company, valued at $10,931,773.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sasha King sold 9,542 shares of CareDx stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $35.74, for a total transaction of $341,031.08. Following the completion of the transaction, the insider now owns 62,045 shares of the company’s stock, valued at approximately $2,217,488.30. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of CDNA. Parametric Portfolio Associates LLC raised its holdings in CareDx by 0.9% during the second quarter. Parametric Portfolio Associates LLC now owns 50,257 shares of the company’s stock worth $1,809,000 after purchasing an additional 456 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in CareDx by 6.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,575 shares of the company’s stock worth $396,000 after purchasing an additional 810 shares in the last quarter. Aperio Group LLC acquired a new stake in CareDx during the second quarter worth approximately $31,000. Rhumbline Advisers raised its holdings in CareDx by 2.2% during the first quarter. Rhumbline Advisers now owns 46,344 shares of the company’s stock worth $1,461,000 after purchasing an additional 987 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new stake in CareDx during the second quarter worth approximately $36,000. Institutional investors own 92.49% of the company’s stock.

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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