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

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

Several other equities analysts also recently weighed in on CDNA. Weiss Ratings reiterated a “sell (d+)” rating on shares of CareDx in a research report on Wednesday, October 8th. William Blair started coverage on CareDx in a research report on Tuesday, August 26th. They set a “market perform” rating on the stock. Wells Fargo & Company reduced their target price on CareDx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Craig Hallum reduced their target price on CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, Zacks Research lowered CareDx from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, CareDx currently has an average rating of “Hold” and a consensus target price of $25.50.

CareDx Stock Performance

CareDx stock opened at $14.51 on Tuesday. The firm has a market capitalization of $772.32 million, a price-to-earnings ratio of 14.23 and a beta of 2.37. CareDx has a fifty-two week low of $10.96 and a fifty-two week high of $26.37. The stock’s fifty day moving average is $14.13 and its two-hundred day moving average is $15.78.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The company had revenue of $90.51 million during the quarter, compared to analysts’ expectations of $90.72 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Trading of CareDx

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in shares of CareDx by 76.1% during the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock valued at $47,355,000 after purchasing an additional 1,153,011 shares during the period. Bamco Inc. NY raised its stake in shares of CareDx by 11.2% in the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock worth $47,593,000 after buying an additional 245,651 shares in the last quarter. Ophir Asset Management Pty Ltd raised its stake in shares of CareDx by 17.0% in the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock worth $36,989,000 after buying an additional 274,625 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock worth $34,507,000 after buying an additional 182,025 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CareDx by 40.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,740,064 shares of the company’s stock worth $25,301,000 after buying an additional 503,136 shares in the last quarter.

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.