CareDx (NASDAQ:CDNA) Lowered to “Hold” Rating by StockNews.com

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

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. HC Wainwright reissued a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. Finally, BTIG Research dropped their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

CareDx Trading Down 0.0 %

NASDAQ CDNA opened at $24.49 on Tuesday. The firm’s fifty day simple moving average is $22.69 and its two-hundred day simple moving average is $25.41. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The firm has a market capitalization of $1.31 billion, a P/E ratio of -9.07 and a beta of 1.87.

Insiders Place Their Bets

In related 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 in the company, valued at $8,250,600. This represents a 1.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in CareDx by 560.1% in the 3rd quarter. CWM LLC now owns 7,604 shares of the company’s stock valued at $237,000 after acquiring an additional 6,452 shares during the last quarter. Creative Planning purchased a new stake in shares of CareDx in the 3rd quarter valued at approximately $204,000. Allspring Global Investments Holdings LLC grew its stake in shares of CareDx by 868.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after buying an additional 183,823 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of CareDx in the 3rd quarter valued at approximately $239,000. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of CareDx in the 3rd quarter valued at approximately $781,000.

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.