CareDx (NASDAQ:CDNA) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a report issued on Thursday.

Several other equities analysts have also recently commented on CDNA. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. Craig Hallum raised their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company initiated coverage on shares of CareDx in a report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. Finally, BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

CareDx Stock Down 2.0 %

CDNA stock opened at $23.98 on Thursday. The company has a market capitalization of $1.25 billion, a PE ratio of -7.01 and a beta of 1.77. The stock’s 50 day moving average is $29.62 and its two-hundred day moving average is $19.78. CareDx has a 52-week low of $4.80 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. The business had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. As a group, sell-side analysts anticipate that CareDx will post -0.84 EPS for the current year.

Insider Buying and Selling at CareDx

In other news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the sale, the insider now directly owns 284,983 shares in the company, valued at approximately $9,284,746.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 in the last ninety days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On CareDx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDNA. Allspring Global Investments Holdings LLC lifted its holdings in shares of CareDx by 868.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after buying an additional 183,823 shares during the period. Harbour Capital Advisors LLC bought a new stake in CareDx in the third quarter worth about $373,000. nVerses Capital LLC lifted its holdings in CareDx by 175.0% in the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after acquiring an additional 2,100 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in CareDx in the 3rd quarter valued at about $206,000. Finally, Creative Planning acquired a new position in shares of CareDx in the 3rd quarter worth approximately $204,000.

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.