CareDx (NASDAQ:CDNA) Stock Rating Upgraded by Wells Fargo & Company

CareDx (NASDAQ:CDNA) was upgraded by research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $24.00 target price on the stock, down from their prior target price of $28.00. Wells Fargo & Company‘s price target indicates a potential upside of 8.84% from the company’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group increased their target price on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reissued a “neutral” rating and issued a $26.00 price objective on shares of CareDx in a report on Tuesday. Finally, BTIG Research reduced their target price on CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

CareDx Trading Down 12.0 %

Shares of CDNA stock opened at $22.05 on Wednesday. CareDx has a twelve month low of $7.42 and a twelve month high of $34.84. The stock has a market cap of $1.18 billion, a P/E ratio of -8.17 and a beta of 1.86. The stock has a 50 day moving average of $22.99 and a 200 day moving average of $24.44.

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

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction 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 owns 330,024 shares of the company’s stock, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On CareDx

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in CareDx in the 3rd quarter valued at about $27,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx in the third quarter valued at approximately $52,000. KBC Group NV acquired a new stake in shares of CareDx in the third quarter valued at approximately $99,000. nVerses Capital LLC lifted its position in CareDx by 175.0% during the third quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after buying an additional 2,100 shares in the last quarter. Finally, Quest Partners LLC lifted its position in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after buying an additional 1,540 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.