CareDx (NASDAQ:CDNA) Downgraded to Hold at StockNews.com

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

Several other research firms also recently weighed in on CDNA. Wells Fargo & Company started coverage on shares of CareDx in a report on Tuesday. They issued an underweight rating and a $28.00 target price for the company. The Goldman Sachs Group boosted their price objective on CareDx from $16.00 to $26.00 and gave the company a buy rating in a report on Thursday, August 1st. Raymond James cut CareDx from an outperform rating to a market perform rating in a report on Monday, May 13th. Craig Hallum boosted their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, BTIG Research raised shares of CareDx from a neutral rating to a buy rating and set a $40.00 price objective for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $28.80.

CareDx Stock Up 2.2 %

NASDAQ:CDNA opened at $30.91 on Thursday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The stock’s fifty day moving average is $21.69 and its two-hundred day moving average is $14.83. The company has a market capitalization of $1.61 billion, a P/E ratio of -9.04 and a beta of 1.78.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.37. The firm had revenue of $92.27 million for the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. Sell-side analysts anticipate that CareDx will post -1.49 earnings per share for the current fiscal year.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CareDx news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CareDx

Several institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC grew its position in shares of CareDx by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of CareDx by 2.1% in the 4th quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock valued at $1,083,000 after purchasing an additional 1,876 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 2,013 shares during the period. Price T Rowe Associates Inc. MD grew its stake in CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after buying an additional 2,344 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in CareDx by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after buying an additional 2,503 shares during the last quarter.

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.