CareDx (NASDAQ:CDNA) Upgraded at StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, August 19th. HC Wainwright restated a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. Wells Fargo & Company initiated coverage on CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price objective for the company. Finally, Craig Hallum boosted their target price on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and an average target price of $28.80.

CareDx Trading Up 3.1 %

CDNA stock traded up $0.85 during midday trading on Tuesday, hitting $28.70. The company had a trading volume of 855,118 shares, compared to its average volume of 899,519. The stock’s 50 day moving average price is $26.64 and its 200 day moving average price is $17.35. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -8.39 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (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 for the quarter, compared to analysts’ expectations of $67.20 million. Analysts predict that CareDx will post -0.84 earnings per share for the current year.

Insider Transactions 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 completion of the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction on 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 sale, 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 can be accessed through this hyperlink. Also, Director Peter Maag sold 35,552 shares of the company’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 transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares of the company’s stock, valued at $10,903,992.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,340 shares of company stock valued at $3,025,415. Insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caxton Associates LP boosted its position in shares of 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 acquiring an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after purchasing an additional 106,660 shares in the last quarter. Renaissance Technologies LLC lifted its position in CareDx by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after purchasing an additional 88,100 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of CareDx in the 1st quarter worth $13,025,000. Finally, Vanguard Group Inc. increased its holdings in shares of CareDx by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after buying an additional 180,334 shares during 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.