CareDx (CDNA) Downgraded to Buy at BidaskClub

CareDx (NASDAQ:CDNA) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Monday, May 14th.

A number of other brokerages have also commented on CDNA. ValuEngine raised CareDx from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of CareDx in a research note on Wednesday, January 31st. Finally, TheStreet upgraded CareDx from a “d-” rating to a “c-” rating in a research note on Tuesday, April 10th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.05.

CareDx traded down $0.14, hitting $11.50, during midday trading on Monday, according to Marketbeat. 296,500 shares of the company were exchanged, compared to its average volume of 338,727. The company has a market capitalization of $410.70 million, a PE ratio of -14.94 and a beta of 0.34. The company has a current ratio of 2.43, a quick ratio of 2.06 and a debt-to-equity ratio of 0.29. CareDx has a 1-year low of $0.95 and a 1-year high of $11.83.



CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Thursday, May 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). CareDx had a negative net margin of 115.91% and a negative return on equity of 158.93%. The business had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.91 million. equities research analysts predict that CareDx will post -0.49 EPS for the current fiscal year.

In other news, insider Peter Maag sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $7.87, for a total value of $118,050.00. Following the transaction, the insider now owns 272,037 shares of the company’s stock, valued at $2,140,931.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Neil Gagnon bought 10,136 shares of CareDx stock in a transaction that occurred on Thursday, April 26th. The stock was purchased at an average cost of $9.42 per share, for a total transaction of $95,481.12. Following the purchase, the insider now owns 928,768 shares of the company’s stock, valued at $8,748,994.56. The disclosure for this purchase can be found here. Corporate insiders own 5.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in CareDx by 37.2% in the first quarter. JPMorgan Chase & Co. now owns 43,851 shares of the company’s stock valued at $349,000 after acquiring an additional 11,879 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of CareDx during the fourth quarter valued at about $102,000. Two Sigma Advisers LP bought a new position in shares of CareDx during the fourth quarter valued at about $105,000. Wells Fargo & Company MN grew its stake in shares of CareDx by 1,360.6% during the fourth quarter. Wells Fargo & Company MN now owns 16,636 shares of the company’s stock valued at $122,000 after buying an additional 15,497 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of CareDx by 26.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 81,330 shares of the company’s stock valued at $648,000 after buying an additional 16,904 shares during the last quarter. 51.87% of the stock is currently 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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