StockNews.com Downgrades CareDx (NASDAQ:CDNA) to Hold

CareDx (NASDAQ:CDNA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other analysts have also recently weighed in on the company. HC Wainwright reissued a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. BTIG Research dropped their price target on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.33.

CareDx Price Performance

Shares of NASDAQ CDNA traded down $0.01 during midday trading on Tuesday, hitting $24.49. The stock had a trading volume of 959,131 shares, compared to its average volume of 906,672. The firm has a market cap of $1.31 billion, a P/E ratio of -9.07 and a beta of 1.87. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The company’s 50-day simple moving average is $22.69 and its 200 day simple moving average is $25.41.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several institutional investors have recently modified their holdings of CDNA. Vanguard Group Inc. raised its holdings in CareDx by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock worth $104,047,000 after buying an additional 323,554 shares during the period. Bamco Inc. NY lifted its position in CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after acquiring an additional 330,627 shares in the last quarter. Fred Alger Management LLC boosted its stake in CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company’s stock worth $34,556,000 after purchasing an additional 110,471 shares during the period. Invesco Ltd. increased its holdings in CareDx by 3.5% during the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company’s stock worth $32,433,000 after purchasing an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in CareDx by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company’s stock worth $30,663,000 after purchasing an additional 196,298 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.