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 research note released on Thursday.

A number of other research firms have also recently commented on CDNA. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. The Goldman Sachs Group upped their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum lifted their price objective on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company started coverage on CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective on the stock. Finally, BTIG Research upgraded shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.60.

CareDx Stock Performance

NASDAQ:CDNA opened at $24.48 on Thursday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The firm has a 50-day moving average price of $29.68 and a two-hundred day moving average price of $19.55. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -7.16 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $92.27 million for the quarter, compared to analyst estimates of $67.20 million. As a group, sell-side analysts forecast that CareDx will post -0.84 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction 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 sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 330,024 shares in the company, valued at $10,903,992.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,340 shares of company stock worth $3,025,415. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On CareDx

Several institutional investors and hedge funds have recently bought and sold shares of CDNA. Millennium Management LLC boosted its holdings in CareDx by 1,085.4% in the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock valued at $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Bamco Inc. NY purchased a new position in CareDx during the 1st quarter valued at about $13,025,000. Fred Alger Management LLC boosted its stake in CareDx by 517.9% during the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after acquiring an additional 963,554 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in CareDx in the second quarter worth about $2,852,000. Finally, Vanguard Group Inc. increased its stake in shares of CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock valued at $45,537,000 after purchasing an additional 180,334 shares in the last quarter.

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.