CareDx (NASDAQ:CDNA) Raised to Hold at Wall Street Zen

CareDx (NASDAQ:CDNA) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Monday.

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

CareDx Price Performance

Shares of CDNA stock opened at $15.19 on Monday. CareDx has a 1-year low of $10.96 and a 1-year high of $26.37. The stock’s 50-day moving average is $13.91 and its 200 day moving average is $15.89. The company has a market cap of $808.52 million, a P/E ratio of 14.89 and a beta of 2.37.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data 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). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The company had revenue of $90.51 million for the quarter, compared to the consensus estimate of $90.72 million. During the same period in the previous year, the business earned $0.25 EPS. CareDx’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts anticipate that CareDx will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. ARS Investment Partners LLC raised its stake in shares of CareDx by 10.6% in the third quarter. ARS Investment Partners LLC now owns 106,055 shares of the company’s stock worth $1,542,000 after purchasing an additional 10,170 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of CareDx by 56.8% in the third quarter. Exchange Traded Concepts LLC now owns 51,532 shares of the company’s stock worth $749,000 after purchasing an additional 18,662 shares during the last quarter. GatePass Capital LLC purchased a new position in shares of CareDx in the second quarter worth about $195,000. Tower Research Capital LLC TRC raised its stake in shares of CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after purchasing an additional 4,160 shares during the last quarter. Finally, Man Group plc raised its stake in shares of CareDx by 22.7% in the second quarter. Man Group plc now owns 55,392 shares of the company’s stock worth $1,082,000 after purchasing an additional 10,252 shares during the last quarter.

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.