CareDx (NASDAQ:CDNA) Lowered to “Hold” Rating by StockNews.com

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

Several other research analysts also recently weighed in on CDNA. Stephens reaffirmed an “overweight” rating and set a $40.00 target price on shares of CareDx in a research note on Monday. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. The Goldman Sachs Group cut their target price on shares of CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright restated a “neutral” rating and set a $25.00 price target on shares of CareDx in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

CareDx Trading Up 1.1 %

Shares of NASDAQ CDNA opened at $15.17 on Monday. The stock’s fifty day simple moving average is $18.37 and its two-hundred day simple moving average is $21.36. CareDx has a 12-month low of $9.64 and a 12-month high of $34.84. The stock has a market capitalization of $844.68 million, a PE ratio of -5.62 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $84.56 million. During the same period last year, the business earned ($0.03) EPS. CareDx’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter Maag sold 13,281 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director now owns 316,743 shares in the company, valued at approximately $5,457,481.89. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently made changes to their positions in CDNA. Swiss National Bank raised its stake in CareDx by 1.9% during the fourth quarter. Swiss National Bank now owns 98,600 shares of the company’s stock valued at $2,111,000 after buying an additional 1,800 shares in the last quarter. Barclays PLC increased its stake in CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after purchasing an additional 54,482 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in CareDx by 59.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company’s stock valued at $7,008,000 after purchasing an additional 122,356 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of CareDx during the fourth quarter worth $208,000. Finally, Principal Financial Group Inc. bought a new position in shares of CareDx in the 3rd quarter worth about $557,000.

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.