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

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

Several other research firms also recently commented on CDNA. The Goldman Sachs Group upped their price objective on shares of CareDx from $16.00 to $26.00 and gave the company a buy rating in a report on Thursday, August 1st. HC Wainwright reiterated a neutral rating on shares of CareDx in a research note on Thursday, August 1st. BTIG Research upgraded 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. Craig Hallum upped their target price on CareDx from $22.00 to $32.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company assumed coverage on CareDx in a report on Tuesday, August 27th. They set an underweight rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, CareDx presently has an average rating of Moderate Buy and a consensus target price of $28.80.

CareDx Stock Performance

Shares of CDNA stock opened at $29.81 on Tuesday. CareDx has a 52-week low of $4.80 and a 52-week high of $34.84. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -8.72 and a beta of 1.77. The firm’s 50-day moving average is $27.08 and its 200-day moving average is $17.51.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The firm had revenue of $92.27 million for the quarter, compared to analyst estimates of $67.20 million. Sell-side analysts predict that CareDx will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Peter Maag sold 35,552 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at $9,284,746.14. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock valued at $3,025,415 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CareDx

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after buying an additional 2,013 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of CareDx in the second quarter worth about $62,000. Meeder Asset Management Inc. acquired a new stake in shares of CareDx in the 2nd quarter valued at approximately $142,000. Quest Partners LLC bought a new stake in shares of CareDx during the 4th quarter valued at approximately $117,000. Finally, Allspring Global Investments Holdings LLC increased its position in CareDx by 10,267.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after purchasing an additional 18,481 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.