CareDx (NASDAQ:CDNA) Upgraded to “Hold” at Wall Street Zen

CareDx (NASDAQ:CDNA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued reports about the stock. William Blair began coverage on shares of CareDx in a research note on Tuesday, August 26th. They issued a “market perform” rating for the company. Wells Fargo & Company cut their price target on CareDx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, August 8th. BTIG Research reissued a “buy” rating and issued a $22.00 price target on shares of CareDx in a report on Tuesday, September 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of CareDx in a report on Saturday, September 27th. Finally, Craig Hallum reduced their target price on CareDx from $40.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.50.

CareDx Stock Performance

NASDAQ CDNA opened at $15.19 on Friday. The company’s 50 day moving average price is $13.36 and its 200 day moving average price is $16.17. CareDx has a one year low of $10.96 and a one year high of $32.76. The firm has a market capitalization of $808.56 million, a price-to-earnings ratio of 14.89 and a beta of 2.37.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.28). The business had revenue of $90.51 million for the quarter, compared to analysts’ expectations of $90.72 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Sell-side analysts forecast that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Trading of CareDx

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CareDx by 124.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock worth $2,577,000 after acquiring an additional 66,833 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of CareDx during the fourth quarter valued at about $210,000. GAMMA Investing LLC raised its stake in shares of CareDx by 1,818.3% during the first quarter. GAMMA Investing LLC now owns 46,097 shares of the company’s stock valued at $818,000 after purchasing an additional 43,694 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in CareDx by 25.4% in the first quarter. Exchange Traded Concepts LLC now owns 36,489 shares of the company’s stock worth $648,000 after purchasing an additional 7,382 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in CareDx in the 1st quarter valued at about $375,000.

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.