CareDx (NASDAQ:CDNA) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of CareDx (NASDAQ:CDNA) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

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

CareDx Stock Down 2.3%

CDNA opened at $14.39 on Friday. The stock has a fifty day moving average of $13.58 and a 200-day moving average of $16.02. The firm has a market capitalization of $765.94 million, a P/E ratio of 14.11 and a beta of 2.37. CareDx has a 12-month low of $10.96 and a 12-month high of $31.52.

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

Hedge Funds Weigh In On CareDx

Several hedge funds have recently bought and sold shares of CDNA. Wealth Enhancement Advisory Services LLC acquired a new position in CareDx during the fourth quarter worth $210,000. GAMMA Investing LLC increased its position in CareDx by 1,818.3% during the first quarter. GAMMA Investing LLC now owns 46,097 shares of the company’s stock worth $818,000 after buying an additional 43,694 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of CareDx by 25.4% in the first quarter. Exchange Traded Concepts LLC now owns 36,489 shares of the company’s stock valued at $648,000 after purchasing an additional 7,382 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of CareDx in the first quarter valued at about $375,000. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in shares of CareDx in the first quarter valued at about $9,502,000.

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.