CareDx (NASDAQ:CDNA) Stock Rating Upgraded by StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other brokerages also recently commented on CDNA. Craig Hallum raised their target price on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price objective on CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. Stephens boosted their price target on CareDx from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Finally, Wells Fargo & Company assumed coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.80.

CareDx Trading Down 0.1 %

NASDAQ:CDNA opened at $27.10 on Friday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -7.92 and a beta of 1.78. CareDx has a 12-month low of $4.80 and a 12-month high of $34.84. The company’s 50-day moving average is $23.41 and its two-hundred day moving average is $15.73.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, July 31st. The company reported ($0.03) EPS 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 firm had revenue of $92.27 million during the quarter, compared to analyst estimates of $67.20 million. On average, equities research analysts forecast that CareDx will post -0.84 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 35,552 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,903,992.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter Maag sold 35,552 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. The disclosure for this sale can be found here. Insiders have sold a total of 91,340 shares of company stock worth $3,025,415 in the last three months. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of 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. Plato Investment Management Ltd acquired a new position in shares of CareDx in the 2nd quarter valued at $62,000. Meeder Asset Management Inc. bought a new stake in CareDx in the second quarter valued at about $142,000. Quest Partners LLC bought a new position in CareDx during the fourth quarter worth about $117,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of CareDx by 10,267.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock valued at $198,000 after acquiring an additional 18,481 shares during the period.

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.