CareDx (NASDAQ:CDNA) Given Neutral Rating at HC Wainwright

HC Wainwright restated their neutral rating on shares of CareDx (NASDAQ:CDNA) in a research note published on Tuesday morning,Benzinga reports. They currently have a $26.00 target price on the stock.

CDNA has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BTIG Research reduced 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. Finally, StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.00.

CareDx Trading Down 12.0 %

Shares of NASDAQ CDNA opened at $22.05 on Tuesday. CareDx has a one year low of $7.42 and a one year high of $34.84. The business has a 50-day moving average price of $22.99 and a two-hundred day moving average price of $24.44. The firm has a market capitalization of $1.18 billion, a PE ratio of -8.17 and a beta of 1.86.

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

Insider Transactions at CareDx

In other news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the director now 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of CareDx by 6.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of CareDx by 868.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after purchasing an additional 183,823 shares in the last quarter. Virtue Capital Management LLC bought a new position in CareDx in the third quarter worth $755,000. Driehaus Capital Management LLC acquired a new stake in CareDx during the second quarter worth $2,852,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in CareDx in the 3rd quarter valued at $1,671,000.

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.