CareDx (NASDAQ:CDNA) Stock Rating Reaffirmed by Stephens

CareDx (NASDAQ:CDNA)‘s stock had its “overweight” rating restated by research analysts at Stephens in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $15.00 price target on the stock. Stephens’ target price would suggest a potential upside of 85.87% from the stock’s current price.

CareDx Price Performance

Shares of CareDx stock opened at $8.07 on Wednesday. CareDx has a 1 year low of $4.80 and a 1 year high of $12.93. The business has a 50-day moving average of $9.69 and a two-hundred day moving average of $9.16. The company has a market capitalization of $417.86 million, a P/E ratio of -2.28 and a beta of 1.42.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The business had revenue of $65.57 million during the quarter, compared to the consensus estimate of $63.66 million. During the same quarter last year, the company earned ($0.34) earnings per share. The firm’s revenue was down 20.4% compared to the same quarter last year. On average, equities analysts anticipate that CareDx will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CDNA. US Bancorp DE grew its holdings in shares of CareDx by 34.2% during the first quarter. US Bancorp DE now owns 8,530 shares of the company’s stock worth $315,000 after buying an additional 2,173 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of CareDx by 61.2% during the first quarter. Cetera Advisor Networks LLC now owns 7,510 shares of the company’s stock worth $278,000 after buying an additional 2,850 shares in the last quarter. AlphaCrest Capital Management LLC grew its holdings in shares of CareDx by 80.2% during the first quarter. AlphaCrest Capital Management LLC now owns 11,101 shares of the company’s stock worth $411,000 after buying an additional 4,940 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of CareDx by 56.3% during the first quarter. MetLife Investment Management LLC now owns 27,585 shares of the company’s stock worth $1,020,000 after buying an additional 9,938 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of CareDx by 0.9% during the first quarter. Rhumbline Advisers now owns 55,130 shares of the company’s stock worth $2,039,000 after buying an additional 481 shares in the last quarter.

CareDx Company Profile

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.