CareDx (NASDAQ:CDNA) Receives Overweight Rating from Stephens

Stephens restated their overweight rating on shares of CareDx (NASDAQ:CDNA) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $40.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “neutral” rating and issued a $25.00 price objective on shares of CareDx in a research report on Monday. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

CareDx Stock Up 1.1 %

CDNA opened at $15.17 on Monday. The firm has a market cap of $844.68 million, a price-to-earnings ratio of -5.62 and a beta of 2.27. CareDx has a 52 week low of $9.64 and a 52 week high of $34.84. The business’s 50 day moving average is $18.37 and its two-hundred day moving average is $21.36.

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

Insiders Place Their Bets

In other news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.90% of the stock is owned by company insiders.

Institutional Trading of CareDx

A number of hedge funds have recently bought and sold shares of CDNA. Sterling Capital Management LLC lifted its stake in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after purchasing an additional 1,126 shares during the period. Tower Research Capital LLC TRC increased its stake in CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after purchasing an additional 3,322 shares during the last quarter. State of Wyoming purchased a new position in CareDx during the fourth quarter worth about $91,000. Morse Asset Management Inc acquired a new stake in CareDx in the 1st quarter worth about $103,000. Finally, Plato Investment Management Ltd grew its holdings in CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after buying an additional 1,370 shares during the period.

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.