CareDx (NASDAQ:CDNA) Rating Lowered to Sell at Wall Street Zen

CareDx (NASDAQ:CDNA) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

CDNA has been the subject of several other research reports. Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research note on Monday, May 5th. HC Wainwright reissued a “neutral” rating and issued a $25.00 price objective on shares of CareDx in a research note on Monday, May 5th. Craig Hallum lowered their price objective on shares of CareDx from $40.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, The Goldman Sachs Group lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.33.

CareDx Price Performance

Shares of CDNA stock opened at $12.22 on Friday. The firm has a market cap of $680.41 million, a PE ratio of 10.63 and a beta of 2.22. The company has a 50-day moving average of $17.41 and a two-hundred day moving average of $18.78. CareDx has a 1-year low of $10.96 and a 1-year high of $34.84.

Insider Activity

In related news, Director Hannah Valantine sold 10,570 shares of CareDx stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total value of $202,521.20. Following the completion of the transaction, the director owned 38,994 shares in the company, valued at $747,125.04. The trade was a 21.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the transaction, the director owned 53,979 shares of the company’s stock, valued at $941,933.55. This represents a 35.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,797 shares of company stock worth $2,191,084 over the last three months. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in CareDx by 13.6% during the fourth quarter. Sei Investments Co. now owns 47,105 shares of the company’s stock worth $1,009,000 after purchasing an additional 5,649 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in CareDx during the fourth quarter worth approximately $208,000. Vanguard Group Inc. raised its holdings in CareDx by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock worth $104,047,000 after purchasing an additional 323,554 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CareDx by 720.0% in the 4th quarter. JPMorgan Chase & Co. now owns 197,912 shares of the company’s stock valued at $4,237,000 after acquiring an additional 173,776 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of CareDx in the 4th quarter valued at $731,000.

CareDx Company Profile

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.