HC Wainwright Reiterates “Neutral” Rating for CareDx (NASDAQ:CDNA)

CareDx (NASDAQ:CDNA)‘s stock had its “neutral” rating reaffirmed by HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $26.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 3.71% from the stock’s current price.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

CareDx Stock Performance

Shares of CDNA opened at $25.07 on Tuesday. The company has a 50-day simple moving average of $23.01 and a 200-day simple moving average of $24.40. CareDx has a 52 week low of $7.42 and a 52 week high of $34.84. The firm has a market capitalization of $1.34 billion, a P/E ratio of -9.29 and a beta of 1.86.

CareDx (NASDAQ:CDNA) last issued its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business had revenue of $82.88 million during the quarter, compared to analyst estimates of $80.04 million. During the same period in the prior year, the company posted ($0.43) earnings per share. CareDx’s revenue was up 23.4% on a year-over-year basis. As a group, equities analysts forecast that CareDx will post -0.7 earnings per share for the current year.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On CareDx

A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its position in shares of CareDx by 1,085.4% during the second quarter. Millennium Management LLC now owns 2,140,909 shares of the company’s stock worth $33,248,000 after acquiring an additional 1,960,308 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of CareDx by 517.9% in the second quarter. Fred Alger Management LLC now owns 1,149,602 shares of the company’s stock valued at $17,853,000 after buying an additional 963,554 shares in the last quarter. FMR LLC increased its stake in shares of CareDx by 802.4% during the 3rd quarter. FMR LLC now owns 625,550 shares of the company’s stock worth $19,533,000 after purchasing an additional 556,230 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in CareDx in the third quarter valued at approximately $10,873,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in CareDx by 78.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,893 shares of the company’s stock valued at $21,760,000 after purchasing an additional 306,222 shares during 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.