CareDx, Inc. (NASDAQ:CDNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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 downgraded CareDx from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
CareDx (NASDAQ:CDNA) opened at 1.34 on Monday. CareDx has a 12-month low of $0.76 and a 12-month high of $5.00. The stock’s market capitalization is $28.70 million. The company has a 50-day moving average price of $1.26 and a 200-day moving average price of $1.48.
CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.19). The firm had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.87 million. CareDx had a negative return on equity of 69.67% and a negative net margin of 77.02%. Analysts expect that CareDx will post ($0.79) earnings per share for the current fiscal year.
In related news, major shareholder Neil Gagnon bought 63,120 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average cost of $1.10 per share, with a total value of $69,432.00. Following the purchase, the insider now directly owns 886,216 shares of the company’s stock, valued at approximately $974,837.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 80,689 shares of company stock valued at $87,815 over the last three months. 5.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDNA. Royce & Associates LP boosted its position in 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 in the last quarter. Gagnon Securities LLC boosted its position in CareDx by 2.9% in the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock valued at $2,314,000 after buying an additional 57,954 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. acquired a new position in CareDx during the first quarter valued at about $22,450,000. 34.89% of the stock is owned by institutional investors and hedge funds.
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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