CareDx (NASDAQ:CDNA) Upgraded to Buy at StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. Craig Hallum boosted their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, August 19th. Finally, Wells Fargo & Company assumed coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

CareDx Stock Up 0.6 %

Shares of NASDAQ:CDNA opened at $28.87 on Tuesday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The company has a 50-day moving average price of $26.85 and a 200 day moving average price of $17.43. The company has a market cap of $1.52 billion, a P/E ratio of -8.44 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The business had revenue of $92.27 million during the quarter, compared to the consensus estimate of $67.20 million. Analysts expect that CareDx will post -0.84 EPS for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following 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 can be accessed through the SEC website. In related news, Director Peter Maag sold 35,552 shares of the stock in a transaction 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 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction dated 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 sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The disclosure for this sale can be found here. In the last three months, insiders sold 91,340 shares of company stock worth $3,025,415. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after buying an additional 180,334 shares in the last quarter. Bellevue Group AG boosted its position in CareDx by 0.4% during the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after acquiring an additional 13,994 shares during the last quarter. Gagnon Securities LLC grew its stake in CareDx by 7.1% in the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after acquiring an additional 149,485 shares during the period. Millennium Management LLC raised its holdings in CareDx by 1,085.4% in the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of CareDx by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares during the period.

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.