CareDx (NASDAQ:CDNA) Upgraded to "Buy" at StockNews.com

CareDx (NASDAQ:CDNA - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Thursday.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company started coverage on CareDx in a research note on Tuesday, August 27th. They set an "underweight" rating and a $28.00 price objective on the stock. HC Wainwright reaffirmed a "neutral" rating on shares of CareDx in a report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of CareDx from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday. Craig Hallum raised their target price on shares of CareDx from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, BTIG Research upgraded CareDx from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Monday, August 19th. One 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 company's stock. According to data from MarketBeat, CareDx currently has an average rating of "Moderate Buy" and an average target price of $30.60.

CareDx Stock Performance

Shares of CareDx stock traded down $1.70 during trading on Thursday, reaching $24.48. The company had a trading volume of 1,586,858 shares, compared to its average volume of 908,406. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $34.84. The firm's fifty day moving average is $29.74 and its 200-day moving average is $19.51. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -7.16 and a beta of 1.77.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data 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. On average, research analysts anticipate that CareDx will post -0.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the sale, the insider now owns 284,983 shares of the company's stock, valued at approximately $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Alexander L. Johnson sold 34,231 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now directly owns 284,983 shares of the company's stock, valued at approximately $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,340 shares of company stock worth $3,025,415. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On CareDx

Several hedge funds have recently modified their holdings of CDNA. Los Angeles Capital Management LLC boosted its stake in CareDx by 9.2% during the first quarter. Los Angeles Capital Management LLC now owns 259,007 shares of the company's stock valued at $2,743,000 after buying an additional 21,892 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of CareDx by 10,267.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company's stock valued at $198,000 after purchasing an additional 18,481 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of CareDx by 87.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company's stock worth $2,417,000 after purchasing an additional 106,660 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of CareDx in the 1st quarter worth approximately $238,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of CareDx by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company's stock worth $1,294,000 after purchasing an additional 31,667 shares in the last quarter.

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.

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