HC Wainwright Reiterates “Neutral” Rating for CareDx (NASDAQ:CDNA)

HC Wainwright restated their neutral rating on shares of CareDx (NASDAQ:CDNA) in a report issued on Tuesday, Benzinga reports. HC Wainwright also issued estimates for CareDx’s Q3 2024 earnings at ($0.23) EPS, FY2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.16) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.60) EPS.

Several other research firms also recently weighed in on CDNA. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, August 19th. Craig Hallum increased their price objective on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company assumed coverage on shares of CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. Finally, StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

CareDx Stock Performance

Shares of CDNA opened at $22.39 on Tuesday. CareDx has a 1 year low of $4.80 and a 1 year high of $34.84. The company’s 50 day simple moving average is $29.04 and its 200 day simple moving average is $20.10. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.55 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share 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 company had revenue of $92.27 million during the quarter, compared to the consensus estimate of $67.20 million. Equities analysts expect that CareDx will post -0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction 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 transaction, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Peter Maag sold 35,552 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. 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 firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,340 shares of company stock worth $3,025,415 over the last ninety days. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake 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 buying an additional 18,481 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after acquiring an additional 106,660 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of CareDx during the first quarter valued at about $238,000. Russell Investments Group Ltd. increased its position in shares of CareDx by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock worth $1,294,000 after acquiring an additional 31,667 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of CareDx by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 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.