CareDx (NASDAQ:CDNA) Upgraded at StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Other equities analysts have also issued reports about the stock. Craig Hallum lifted their price target on shares of CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on shares of CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a report on Thursday. Raymond James lowered shares of CareDx from an “outperform” rating to a “market perform” rating in a report on Monday, May 13th. Stephens boosted their price objective on shares of CareDx from $15.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

CareDx Stock Performance

NASDAQ:CDNA traded up $0.81 during trading hours on Monday, reaching $23.69. The company’s stock had a trading volume of 1,544,651 shares, compared to its average volume of 897,299. The company has a market capitalization of $1.25 billion, a P/E ratio of -6.93 and a beta of 1.78. CareDx has a 12 month low of $4.80 and a 12 month high of $26.50. The stock has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $12.22.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.18. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The business had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. As a group, analysts predict that CareDx will post -1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of CareDx by 13.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after acquiring an additional 2,503 shares during the period. Bank of New York Mellon Corp grew its stake in shares of CareDx by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 193,994 shares of the company’s stock valued at $3,013,000 after buying an additional 12,404 shares during the period. SG Americas Securities LLC boosted its position in shares of CareDx by 900.8% during the 2nd quarter. SG Americas Securities LLC now owns 110,416 shares of the company’s stock worth $1,715,000 after purchasing an additional 99,383 shares during the period. GAMMA Investing LLC boosted its position in shares of CareDx by 1,021.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock worth $34,000 after purchasing an additional 2,013 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of CareDx by 8.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,150,972 shares of the company’s stock worth $12,189,000 after purchasing an additional 92,363 shares during the period.

CareDx Company Profile

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.