CareDx (NASDAQ:CDNA) Earns Underweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of CareDx (NASDAQ:CDNA) in a research report released on Tuesday, MarketBeat reports. The brokerage issued an underweight rating and a $28.00 price target on the stock.

CDNA has been the subject of several other research reports. StockNews.com raised CareDx from a hold rating to a buy rating in a research note on Monday, August 5th. Stephens upped their target price on CareDx from $15.00 to $18.00 and gave the stock an overweight rating in a research note on Monday, May 13th. Raymond James lowered CareDx from an outperform rating to a market perform rating in a research note on Monday, May 13th. The Goldman Sachs Group upped their target price on CareDx from $16.00 to $26.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, BTIG Research raised CareDx from a neutral rating to a buy rating and set a $40.00 target price for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $28.80.

CareDx Trading Up 2.2 %

Shares of NASDAQ CDNA opened at $30.91 on Tuesday. CareDx has a 12 month low of $4.80 and a 12 month high of $34.84. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -9.04 and a beta of 1.78. The business has a 50-day moving average of $21.69 and a 200-day moving average of $14.83.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.37. The company had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, analysts predict that CareDx will post -1.49 earnings per share for the current year.

Insider Activity

In other news, Director Peter Maag sold 35,552 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares of the company’s stock, valued at $10,903,992.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in CareDx by 1,021.8% in the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after acquiring an additional 2,013 shares during the period. Headlands Technologies LLC purchased a new position in CareDx during the fourth quarter valued at $50,000. Plato Investment Management Ltd purchased a new position in CareDx during the second quarter valued at $62,000. Quest Partners LLC purchased a new position in CareDx during the fourth quarter valued at $117,000. Finally, Meeder Asset Management Inc. purchased a new position in CareDx during the second quarter valued at $142,000.

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.