CareDx (NASDAQ:CDNA) Downgraded by BidaskClub

BidaskClub lowered shares of CareDx (NASDAQ:CDNA) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on CDNA. Raymond James upped their price target on shares of CareDx from $46.00 to $48.00 and gave the stock a strong-buy rating in a research report on Friday, August 2nd. Craig Hallum set a $48.00 price target on shares of CareDx and gave the stock a positive rating in a research report on Thursday, July 11th. Zacks Investment Research raised shares of CareDx from a sell rating to a hold rating in a research report on Wednesday, August 7th. Piper Jaffray Companies upped their price target on shares of CareDx from $50.00 to $63.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Finally, HC Wainwright reaffirmed a buy rating on shares of CareDx in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $44.00.

Shares of CDNA stock opened at $23.63 on Wednesday. The company has a market capitalization of $1.00 billion, a P/E ratio of -18.04 and a beta of 0.90. The company’s 50-day simple moving average is $32.68 and its two-hundred day simple moving average is $31.77. CareDx has a one year low of $16.53 and a one year high of $41.27.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, August 1st. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). CareDx had a negative return on equity of 47.53% and a negative net margin of 38.29%. The company had revenue of $31.45 million during the quarter, compared to the consensus estimate of $27.96 million. As a group, analysts expect that CareDx will post -0.7 earnings per share for the current fiscal year.

In related news, CFO Michael Brian Bell sold 14,702 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $38.81, for a total transaction of $570,584.62. Following the completion of the sale, the chief financial officer now owns 71,734 shares of the company’s stock, valued at $2,783,996.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Maag sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.84, for a total transaction of $1,442,000.00. Following the sale, the chief executive officer now directly owns 379,049 shares of the company’s stock, valued at approximately $10,931,773.16. The disclosure for this sale can be found here. Insiders have sold 142,286 shares of company stock valued at $4,843,989 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Aperio Group LLC acquired a new position in CareDx during the 2nd quarter valued at approximately $31,000. Covenant Multifamily Offices LLC acquired a new position in CareDx during the 1st quarter valued at approximately $32,000. Stonebridge Capital Advisors LLC acquired a new position in CareDx during the 2nd quarter valued at approximately $36,000. Pearl River Capital LLC acquired a new position in CareDx during the 1st quarter valued at approximately $48,000. Finally, First Quadrant L P CA acquired a new position in CareDx during the 2nd quarter valued at approximately $63,000. Institutional investors and hedge funds own 89.13% of the company’s stock.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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