CareDx (NASDAQ:CDNA) Stock Rating Reaffirmed by Stephens

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

CareDx Trading Down 2.5 %

Shares of CDNA opened at $8.07 on Wednesday. The company has a market capitalization of $417.86 million, a PE ratio of -2.28 and a beta of 1.42. CareDx has a 12 month low of $4.80 and a 12 month high of $12.93. The stock’s 50-day moving average price is $9.69 and its two-hundred day moving average price is $9.16.

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

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake in 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 last quarter. Los Angeles Capital Management LLC lifted its stake in CareDx by 9.2% in the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company’s stock valued at $2,743,000 after purchasing an additional 21,892 shares during the last quarter. Wellington Management Group LLP purchased a new position in CareDx in the fourth quarter valued at approximately $998,000. Bullseye Asset Management LLC lifted its stake in CareDx by 2.9% in the fourth quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock valued at $2,098,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in CareDx in the fourth quarter valued at approximately $39,000.

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.