CareDx (NASDAQ:CDNA) Raised to Buy at StockNews.com

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a report released on Tuesday morning.

Other equities analysts have also issued reports about the stock. Craig Hallum increased their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a buy rating in a report on Thursday, August 1st. BTIG Research raised CareDx from a neutral rating to a buy rating and set a $40.00 price objective for the company in a research note on Monday, August 19th. HC Wainwright reissued a neutral rating on shares of CareDx in a research note 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 research report on Thursday, August 1st. Finally, Wells Fargo & Company assumed coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an underweight rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, CareDx has a consensus rating of Moderate Buy and a consensus target price of $28.80.

CareDx Stock Performance

NASDAQ CDNA opened at $29.81 on Tuesday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The stock has a market capitalization of $1.55 billion, a P/E ratio of -8.72 and a beta of 1.77. The stock has a fifty day moving average of $27.08 and a 200-day moving average of $17.51.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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. 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 CareDx stock in a transaction that occurred 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 transaction, the director now owns 330,024 shares of the company’s stock, valued at $10,903,992.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,284,746.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The disclosure for this sale can be found here. In the last three months, insiders sold 91,340 shares of company stock worth $3,025,415. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently made changes to their positions in the business. Caxton Associates LP boosted its holdings in CareDx by 97.2% during the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock worth $1,020,000 after purchasing an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CareDx by 87.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock worth $2,417,000 after buying an additional 106,660 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after acquiring an additional 88,100 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of CareDx in the first quarter valued at about $13,025,000. Finally, Vanguard Group Inc. raised its holdings in CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after acquiring an additional 180,334 shares in 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.