CareDx (NASDAQ:CDNA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of CareDx (NASDAQ:CDNAGet Rating) from a sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “

Other equities analysts also recently issued reports about the stock. Raymond James dropped their target price on shares of CareDx from $90.00 to $52.00 and set a strong-buy rating for the company in a report on Friday, February 25th. Stephens started coverage on shares of CareDx in a report on Monday. They set an overweight rating and a $50.00 price target for the company. StockNews.com downgraded shares of CareDx from a hold rating to a sell rating in a report on Friday, April 8th. BTIG Research lowered their target price on shares of CareDx from $100.00 to $65.00 in a report on Monday, February 28th. Finally, Craig Hallum lowered their target price on shares of CareDx from $106.00 to $87.00 in a report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CareDx has an average rating of Buy and an average target price of $76.50.

Shares of NASDAQ CDNA opened at $30.22 on Wednesday. CareDx has a 52 week low of $27.87 and a 52 week high of $96.88. The firm has a 50-day moving average price of $35.94 and a 200 day moving average price of $43.35. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -51.22 and a beta of 0.68.

CareDx (NASDAQ:CDNAGet Rating) last posted its earnings results on Thursday, February 24th. The company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.12). CareDx had a negative net margin of 10.35% and a negative return on equity of 6.49%. The business had revenue of $79.22 million for the quarter, compared to analysts’ expectations of $78.10 million. During the same quarter last year, the business posted ($0.07) earnings per share. The business’s revenue was up 35.1% compared to the same quarter last year. Research analysts forecast that CareDx will post -0.92 earnings per share for the current fiscal year.

In other CareDx news, insider Reginald Seeto sold 814 shares of CareDx stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $42.13, for a total transaction of $34,293.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George Bickerstaff sold 25,000 shares of CareDx stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $39.11, for a total transaction of $977,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,893 shares of company stock worth $2,757,930. 4.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. lifted its position in shares of CareDx by 64.5% during the fourth quarter. Montag A & Associates Inc. now owns 579 shares of the company’s stock worth $26,000 after purchasing an additional 227 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of CareDx by 2,183.9% during the fourth quarter. Lindbrook Capital LLC now owns 708 shares of the company’s stock worth $32,000 after purchasing an additional 677 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in shares of CareDx during the fourth quarter worth $32,000. Sandy Cove Advisors LLC acquired a new position in shares of CareDx during the fourth quarter worth $45,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of CareDx during the third quarter worth $101,000.

About CareDx (Get Rating)

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It 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.

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