HC Wainwright Reaffirms Neutral Rating for CareDx (NASDAQ:CDNA)

HC Wainwright reissued their neutral rating on shares of CareDx (NASDAQ:CDNA) in a report released on Tuesday morning,Benzinga reports. The firm currently has a $26.00 price target on the stock.

A number of other equities analysts have also commented on CDNA. The Goldman Sachs Group boosted their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, BTIG Research cut their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, CareDx has a consensus rating of “Moderate Buy” and an average price target of $29.00.

CareDx Price Performance

CareDx stock opened at $22.05 on Tuesday. The business has a 50 day simple moving average of $22.99 and a 200 day simple moving average of $24.44. The company has a market capitalization of $1.18 billion, a PE ratio of -8.17 and a beta of 1.86. CareDx has a one year low of $7.42 and a one year high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same period last year, the business earned ($0.43) earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. Equities analysts anticipate that CareDx will post -0.7 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now owns 330,024 shares of the company’s stock, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.90% of the stock is currently owned by company insiders.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of CareDx during the 3rd quarter worth approximately $27,000. Harvest Fund Management Co. Ltd bought a new position in CareDx in the third quarter valued at approximately $52,000. Plato Investment Management Ltd acquired a new stake in CareDx during the 2nd quarter worth $62,000. KBC Group NV bought a new stake in shares of CareDx during the 3rd quarter valued at $99,000. Finally, nVerses Capital LLC lifted its stake in shares of 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 purchasing an additional 2,100 shares during the period.

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.