CareDx’s (CDNA) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of CareDx (NASDAQ:CDNA) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $26.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on CDNA. BTIG Research lowered their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

CareDx Trading Down 2.8 %

Shares of NASDAQ:CDNA opened at $22.06 on Tuesday. CareDx has a 12 month low of $7.42 and a 12 month high of $34.84. The company has a 50-day moving average price of $22.94 and a 200 day moving average price of $24.41. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -8.17 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.43) EPS. As a group, equities analysts forecast that CareDx will post -0.7 EPS for the current year.

Insider Buying and Selling at CareDx

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

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its holdings in CareDx by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 108,366 shares of the company’s stock worth $1,683,000 after acquiring an additional 11,168 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of CareDx by 7.4% during the 2nd quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock worth $575,000 after acquiring an additional 2,536 shares during the period. Plato Investment Management Ltd acquired a new position in CareDx in the 2nd quarter valued at about $62,000. Renaissance Technologies LLC grew its position in CareDx by 6.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after acquiring an additional 88,100 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of CareDx by 517.9% during the 2nd quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock worth $17,853,000 after purchasing an additional 963,554 shares during 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.