CareDx (NASDAQ:CDNA) Stock Rating Lowered by StockNews.com

CareDx (NASDAQ:CDNA - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

A number of other research analysts have also recently issued reports on CDNA. BTIG Research decreased their price target on shares of CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company raised shares of CareDx from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.33.

CareDx Stock Performance

CDNA stock traded down $1.09 on Tuesday, hitting $22.29. 898,901 shares of the company's stock were exchanged, compared to its average volume of 894,047. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The firm has a 50 day moving average price of $22.69 and a two-hundred day moving average price of $25.40. The stock has a market cap of $1.20 billion, a P/E ratio of -8.26 and a beta of 1.87.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the 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 sale, the director now directly owns 330,024 shares of the company's stock, valued at $8,250,600. This represents a 1.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.90% of the company's stock.

Hedge Funds Weigh In On CareDx

A number of hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of CareDx in the third quarter valued at approximately $27,000. Sterling Capital Management LLC increased its position in shares of CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after buying an additional 1,126 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx in the third quarter valued at approximately $52,000. KBC Group NV purchased a new stake in shares of CareDx in the third quarter valued at approximately $99,000. Finally, Tower Research Capital LLC TRC lifted its stake in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after buying an additional 3,322 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.