CareDx (NASDAQ:CDNA) Downgraded by StockNews.com

StockNews.com cut shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a report issued on Saturday.

A number of other analysts have also recently commented on the company. Wells Fargo & Company started coverage on CareDx in a research report on Tuesday, August 27th. They set an underweight rating and a $28.00 target price on the stock. The Goldman Sachs Group boosted their price target on CareDx from $16.00 to $26.00 and gave the company a buy rating in a research report on Thursday, August 1st. BTIG Research upgraded CareDx from a neutral rating to a buy rating and set a $40.00 price target on the stock in a research report on Monday, August 19th. Craig Hallum boosted their price target on CareDx from $22.00 to $32.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, HC Wainwright restated a neutral rating on shares of CareDx in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, CareDx has an average rating of Hold and an average price target of $28.80.

CareDx Price Performance

CareDx stock opened at $29.73 on Friday. The stock’s fifty day moving average is $25.04 and its two-hundred day moving average is $16.61. CareDx has a 1-year low of $4.80 and a 1-year high of $34.84. The stock has a market cap of $1.57 billion, a PE ratio of -8.69 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.03) 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 for the quarter, compared to analysts’ expectations of $67.20 million. On average, research analysts expect that CareDx will post -0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,561,179.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareDx

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of CareDx during the second quarter worth about $62,000. Quest Partners LLC bought a new position in shares of CareDx during the fourth quarter worth about $117,000. Meeder Asset Management Inc. acquired a new stake in CareDx during the second quarter worth about $142,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 10,267.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after purchasing an additional 18,481 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.