CareDx (NASDAQ:CDNA) Earns Neutral Rating from HC Wainwright

CareDx (NASDAQ:CDNA - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $26.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 17.91% from the company's previous close.

Several other research firms have also recently commented on CDNA. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. The Goldman Sachs Group increased their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, BTIG Research cut their target price on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. One equities research 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, CareDx has an average rating of "Moderate Buy" and an average price target of $29.00.

CareDx Stock Performance

CareDx stock traded down $3.02 during mid-day trading on Tuesday, reaching $22.05. 1,343,871 shares of the company were exchanged, compared to its average volume of 899,753. The firm has a market cap of $1.18 billion, a PE ratio of -8.17 and a beta of 1.86. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84. The firm's 50-day simple moving average is $22.99 and its two-hundred day simple moving average is $24.44.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.11. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. 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 business earned ($0.43) EPS. The business's revenue was up 23.4% on a year-over-year basis. As a group, equities research analysts anticipate that CareDx will post -0.7 EPS for the current year.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now owns 330,024 shares of the company's stock, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in CareDx in the 3rd quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in CareDx in the third quarter valued at about $52,000. Plato Investment Management Ltd acquired a new stake in shares of CareDx in the 2nd quarter valued at about $62,000. KBC Group NV acquired a new position in CareDx in the third quarter worth $99,000. Finally, nVerses Capital LLC raised its position in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company's stock worth $103,000 after purchasing an additional 2,100 shares during the period.

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.