CareDx (NASDAQ:CDNA) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of CareDx (NASDAQ:CDNA) in a research report released on Tuesday, Benzinga reports.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company initiated coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. Craig Hallum raised their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, BTIG Research raised shares of CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, August 19th. 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 an average price target of $30.60.

CareDx Stock Down 1.4 %

CDNA stock opened at $23.14 on Tuesday. CareDx has a 52 week low of $4.80 and a 52 week high of $34.84. The firm has a market capitalization of $1.21 billion, a P/E ratio of -6.77 and a beta of 1.77. The company has a fifty day simple moving average of $29.46 and a two-hundred day simple moving average of $19.97.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.37. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The business had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. As a group, analysts anticipate that CareDx will post -0.84 EPS for the current year.

Insider Activity

In other 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 value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,340 shares of company stock worth $3,025,415. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of CareDx

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 180,334 shares in the last quarter. Gagnon Securities LLC raised its position in CareDx by 7.1% during the 1st quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after buying an additional 149,485 shares during the last quarter. Millennium Management LLC raised its position in CareDx by 1,085.4% during the 2nd quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after buying an additional 1,960,308 shares during the last quarter. Renaissance Technologies LLC raised its position in 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 buying an additional 88,100 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in CareDx during the 1st quarter worth approximately $13,025,000.

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.