CareDx (NASDAQ:CDNA) Lowered to “Hold” Rating by Wall Street Zen

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

A number of other analysts also recently issued reports on the company. William Blair initiated coverage on CareDx in a research report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. BTIG Research upped their price objective on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a report on Monday. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

CareDx Stock Up 3.8%

Shares of CDNA stock opened at $20.56 on Friday. CareDx has a 12 month low of $10.96 and a 12 month high of $25.95. The company’s fifty day simple moving average is $16.22 and its 200-day simple moving average is $15.76. The firm has a market cap of $1.06 billion, a PE ratio of 17.28 and a beta of 2.54.

CareDx (NASDAQ:CDNA) last released its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The business had revenue of $100.06 million during the quarter, compared to the consensus estimate of $95.25 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts predict that CareDx will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently modified their holdings of the stock. MCF Advisors LLC lifted its position in CareDx by 292.9% during the second quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock worth $26,000 after acquiring an additional 996 shares during the last quarter. Allworth Financial LP bought a new position in shares of CareDx during the second quarter worth approximately $40,000. State of Alaska Department of Revenue acquired a new stake in CareDx during the 3rd quarter worth approximately $43,000. PNC Financial Services Group Inc. boosted its stake in CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company’s stock valued at $79,000 after purchasing an additional 4,444 shares during the period. Finally, Quantbot Technologies LP acquired a new position in CareDx in the 3rd quarter valued at $89,000.

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.