StockNews.com Downgrades CareDx (NASDAQ:CDNA) to Hold

CareDx (NASDAQ:CDNAGet Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research analysts have also recently weighed in on CDNA. The Goldman Sachs Group lifted their price objective on shares of CareDx from $10.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 13th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Wednesday, May 15th. Stephens boosted their price target on shares of CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Raymond James cut shares of CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. Finally, Craig Hallum boosted their price target on shares of CareDx from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Read Our Latest Stock Report on CDNA

CareDx Price Performance

Shares of CDNA stock opened at $16.15 on Wednesday. The firm’s 50-day moving average is $10.74 and its two-hundred day moving average is $10.31. CareDx has a 12 month low of $4.80 and a 12 month high of $17.03. The company has a market capitalization of $841.09 million, a PE ratio of -4.72 and a beta of 1.51.

CareDx (NASDAQ:CDNAGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The company had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative net margin of 66.59% and a negative return on equity of 55.08%. CareDx’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Sell-side analysts forecast that CareDx will post -1.59 EPS for the current year.

Institutional Trading of CareDx

Several institutional investors have recently modified their holdings of CDNA. Headlands Technologies LLC purchased a new stake in CareDx in the 4th quarter valued at $50,000. WINTON GROUP Ltd purchased a new stake in CareDx in the 3rd quarter valued at $72,000. Nisa Investment Advisors LLC raised its position in CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after purchasing an additional 5,253 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in CareDx in the 3rd quarter valued at $85,000. Finally, Quest Partners LLC purchased a new stake in CareDx in the 4th quarter valued at $117,000.

CareDx Company Profile

(Get Free Report)

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.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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