CareDx’s (CDNA) “Overweight” Rating Reiterated at Stephens

CareDx (NASDAQ:CDNA)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a note issued to investors on Wednesday, Benzinga reports. They presently have a $15.00 price objective on the stock. Stephens’ target price would suggest a potential upside of 82.26% from the company’s current price.

CareDx Stock Up 4.8 %

Shares of NASDAQ:CDNA traded up $0.38 during trading on Wednesday, reaching $8.23. The stock had a trading volume of 865,424 shares, compared to its average volume of 903,682. The stock has a fifty day simple moving average of $9.72 and a two-hundred day simple moving average of $9.16. CareDx has a 52 week low of $4.80 and a 52 week high of $12.93. The firm has a market capitalization of $426.15 million, a price-to-earnings ratio of -2.34 and a beta of 1.42.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). The firm had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. On average, analysts forecast that CareDx will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CDNA. Lazard Asset Management LLC grew its position in CareDx by 32.0% during the first quarter. Lazard Asset Management LLC now owns 3,225 shares of the company’s stock worth $119,000 after buying an additional 782 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of CareDx during the 4th quarter worth approximately $39,000. Point72 Europe London LLP bought a new stake in shares of CareDx during the fourth quarter valued at approximately $41,000. US Bancorp DE raised its stake in shares of CareDx by 95.8% in the fourth quarter. US Bancorp DE now owns 3,508 shares of the company’s stock valued at $42,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of CareDx in the first quarter valued at $131,000.

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.