CareDx (NASDAQ:CDNA) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of CareDx (NASDAQ:CDNA) from a strong sell rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

Several other analysts have also issued reports on the stock. TheStreet lowered shares of CareDx from a c rating to a d rating in a research report on Thursday, May 23rd. Piper Jaffray Companies set a $63.00 price target on shares of CareDx and gave the stock a buy rating in a research report on Thursday, August 22nd. HC Wainwright set a $43.00 price objective on shares of CareDx and gave the company a buy rating in a research report on Friday, August 23rd. Zacks Investment Research raised shares of CareDx from a sell rating to a hold rating in a research report on Wednesday, August 7th. Finally, Craig Hallum set a $48.00 price objective on shares of CareDx and gave the company a positive rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. CareDx presently has a consensus rating of Buy and a consensus price target of $44.00.

NASDAQ CDNA opened at $23.66 on Thursday. The firm’s fifty day moving average price is $24.67 and its two-hundred day moving average price is $31.01. CareDx has a 1 year low of $19.11 and a 1 year high of $41.27. The firm has a market capitalization of $994.32 million, a P/E ratio of -18.06 and a beta of 1.04.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). CareDx had a negative return on equity of 47.53% and a negative net margin of 38.29%. The firm had revenue of $31.45 million for the quarter, compared to the consensus estimate of $27.96 million. As a group, sell-side analysts expect that CareDx will post -0.7 EPS for the current fiscal year.

In other news, CEO Peter Maag sold 50,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $28.84, for a total value of $1,442,000.00. Following the transaction, the chief executive officer now directly owns 379,049 shares of the company’s stock, valued at $10,931,773.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sasha King sold 9,542 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $35.74, for a total transaction of $341,031.08. Following the completion of the transaction, the insider now directly owns 62,045 shares in the company, valued at $2,217,488.30. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in CDNA. Aperio Group LLC acquired a new position in shares of CareDx in the second quarter valued at about $31,000. Stonebridge Capital Advisors LLC acquired a new position in shares of CareDx in the second quarter valued at about $36,000. First Quadrant L P CA acquired a new position in shares of CareDx in the second quarter valued at about $63,000. Atria Investments LLC acquired a new position in shares of CareDx in the second quarter valued at about $160,000. Finally, Resources Investment Advisors LLC. acquired a new position in shares of CareDx in the second quarter valued at about $212,000. Institutional investors and hedge funds own 92.49% of the company’s stock.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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