CareDx (NASDAQ:CDNA) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of CareDx (NASDAQ:CDNA) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday morning.

A number of other brokerages have also recently weighed in on CDNA. Wells Fargo & Company lifted their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. BTIG Research lifted their price target on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Tuesday, January 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.

CareDx Price Performance

Shares of CDNA stock opened at $21.50 on Friday. The stock has a 50-day simple moving average of $18.52 and a 200 day simple moving average of $18.32. CareDx has a fifty-two week low of $10.96 and a fifty-two week high of $23.24. The stock has a market capitalization of $1.11 billion, a P/E ratio of -134.38 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business had revenue of $117.70 million during the quarter, compared to the consensus estimate of $102.03 million. CareDx’s revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. On average, sell-side analysts anticipate that CareDx will post 0.22 earnings per share for the current year.

Insider Transactions at CareDx

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $21.12, for a total value of $217,155.84. Following the completion of the sale, the chief executive officer directly owned 676,475 shares of the company’s stock, valued at approximately $14,287,152. This represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On CareDx

Hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in CareDx in the 4th quarter worth about $25,000. FNY Investment Advisers LLC purchased a new stake in CareDx in the 3rd quarter worth about $31,000. State of Alaska Department of Revenue purchased a new stake in CareDx in the 3rd quarter worth about $43,000. Meeder Asset Management Inc. purchased a new stake in CareDx in the 4th quarter worth about $79,000. Finally, Quantbot Technologies LP purchased a new stake in CareDx in the 3rd quarter worth about $89,000.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.