Zacks Investment Research Lowers CareDx, Inc. (NASDAQ:CDNA) to Hold

CareDx, Inc. (NASDAQ:CDNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “

Separately, ValuEngine lowered shares of CareDx from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.

Shares of CareDx (CDNA) traded up 0.07% during midday trading on Monday, hitting $1.49. The company had a trading volume of 91,084 shares. CareDx has a 52 week low of $0.76 and a 52 week high of $5.06. The company’s market capitalization is $33.44 million. The firm’s 50 day moving average is $1.20 and its 200 day moving average is $1.52.

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In other news, major shareholder Neil Gagnon bought 63,120 shares of the stock in a transaction on Friday, June 23rd. The stock was bought at an average cost of $1.10 per share, for a total transaction of $69,432.00. Following the completion of the purchase, the insider now directly owns 886,216 shares in the company, valued at $974,837.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 80,689 shares of company stock valued at $87,815. 5.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in CDNA. Armstrong Henry H Associates Inc. purchased a new stake in shares of CareDx during the first quarter valued at $22,450,000. Gagnon Securities LLC increased its stake in shares of CareDx by 12.8% in the first quarter. Gagnon Securities LLC now owns 2,026,338 shares of the company’s stock valued at $2,837,000 after buying an additional 230,494 shares during the period. Finally, Royce & Associates LP increased its stake in shares of CareDx by 23.5% in the first quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock valued at $737,000 after buying an additional 100,111 shares during the period. Institutional investors own 36.80% of the company’s stock.

CareDx Company Profile

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

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