CareDx (NASDAQ:CDNA) Rating Lowered to Hold at StockNews.com

by · The Cerbat Gem

CareDx (NASDAQ:CDNA – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other research analysts also recently issued reports about the company. Wells Fargo & Company assumed coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, August 19th. Craig Hallum boosted their target price on 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 CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.80.

Get Our Latest Analysis on CareDx

CareDx Trading Down 2.3 %

NASDAQ CDNA opened at $30.44 on Wednesday. The stock’s 50 day moving average is $28.05 and its two-hundred day moving average is $18.12. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.11 and a beta of 1.77. CareDx has a 1-year low of $4.80 and a 1-year high of $34.84.

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

Insiders Place Their Bets

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the company’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 completion of the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the company’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 completion of the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CareDx

A number of large investors have recently made changes to their positions in the company. ClariVest Asset Management LLC increased its position in shares of CareDx by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 2,013 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after purchasing an additional 2,344 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CareDx by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after purchasing an additional 2,503 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in 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 purchasing an additional 2,536 shares in the last quarter.

About CareDx

(Get Free Report)

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.

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