CareDx (NASDAQ:CDNA) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a buy rating in a report released on Thursday.

CDNA has been the subject of a number of other reports. Stephens increased their price objective on CareDx from $15.00 to $18.00 and gave the stock an overweight rating in a research report on Monday, May 13th. Raymond James cut CareDx from an outperform rating to a market perform rating in a report on Monday, May 13th. HC Wainwright restated a neutral rating on shares of CareDx in a research note on Friday, May 31st. The Goldman Sachs Group boosted their price target on CareDx from $10.00 to $14.00 and gave the stock a buy rating in a research note on Monday, May 13th. Finally, Craig Hallum upped their target price on CareDx from $15.00 to $22.00 and gave the company a buy rating in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $16.50.

CareDx Stock Up 7.9 %

NASDAQ:CDNA opened at $15.53 on Thursday. The company has a market capitalization of $808.86 million, a P/E ratio of -4.54 and a beta of 1.77. CareDx has a 52 week low of $4.80 and a 52 week high of $17.03. The stock’s fifty day moving average is $13.09 and its two-hundred day moving average is $11.14.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, May 9th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.18. The firm had revenue of $72.05 million during the quarter, compared to analysts’ expectations of $63.63 million. CareDx had a negative return on equity of 55.08% and a negative net margin of 66.59%. Sell-side analysts anticipate that CareDx will post -1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CareDx

Several hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its stake in CareDx by 7.1% during the third quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock worth $928,000 after purchasing an additional 8,768 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of CareDx by 138.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 237,115 shares of the company’s stock worth $2,845,000 after buying an additional 137,842 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of CareDx by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares in the last quarter. Swiss National Bank increased its holdings in shares of CareDx by 2.3% in the third quarter. Swiss National Bank now owns 118,200 shares of the company’s stock valued at $827,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of CareDx by 1.2% in the third quarter. Vanguard Group Inc. now owns 4,138,591 shares of the company’s stock valued at $28,970,000 after purchasing an additional 50,667 shares in the last quarter.

About CareDx

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.