CareDx’s (CDNA) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of CareDx (NASDAQ:CDNA) in a research note released on Monday,Benzinga reports. HC Wainwright currently has a $25.00 price target on the stock.

CDNA has been the topic of a number of other reports. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. 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. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.33.

CareDx Price Performance

NASDAQ CDNA opened at $15.17 on Monday. The stock has a market capitalization of $844.68 million, a price-to-earnings ratio of -5.62 and a beta of 2.27. The business’s fifty day moving average is $18.37 and its 200-day moving average is $21.36. CareDx has a one year low of $9.64 and a one year high of $34.84.

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

Insider Activity

In related news, Director Peter Maag sold 13,281 shares of the company’s 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 transaction, the director now directly owns 316,743 shares in the company, valued at approximately $5,457,481.89. This represents a 4.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

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

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.