StockNews.com Upgrades CareDx (NASDAQ:CDNA) to Buy

CareDx (NASDAQ:CDNAGet Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other equities analysts have also commented on CDNA. Stephens reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of CareDx in a research report on Wednesday, April 17th. Craig Hallum restated a “buy” rating and set a $15.00 price target on shares of CareDx in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and an average price target of $14.00.

View Our Latest Report on CDNA

CareDx Trading Up 34.1 %

Shares of CDNA stock traded up $3.77 during trading hours on Friday, reaching $14.83. 2,493,469 shares of the company’s stock were exchanged, compared to its average volume of 923,972. CareDx has a fifty-two week low of $4.80 and a fifty-two week high of $15.30. The stock’s 50 day moving average is $9.79 and its 200-day moving average is $9.52. The company has a market cap of $767.88 million, a price-to-earnings ratio of -4.19 and a beta of 1.51.

CareDx (NASDAQ:CDNAGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The business had revenue of $65.57 million for the quarter, compared to analysts’ expectations of $63.66 million. During the same quarter last year, the firm earned ($0.34) earnings per share. The firm’s quarterly revenue was down 20.4% compared to the same quarter last year. Equities analysts anticipate that CareDx will post -1.59 EPS for the current year.

Institutional Trading of CareDx

Several large investors have recently made changes to their positions in the business. Citigroup Inc. lifted its position in CareDx by 7.1% during the third quarter. Citigroup Inc. now owns 132,560 shares of the company’s stock valued at $928,000 after purchasing an additional 8,768 shares during the period. Los Angeles Capital Management LLC grew its holdings in CareDx by 138.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 237,115 shares of the company’s stock worth $2,845,000 after acquiring an additional 137,842 shares during the period. ARK Investment Management LLC raised its position in CareDx by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after acquiring an additional 515,399 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in CareDx by 38.7% in the third quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock valued at $7,036,000 after acquiring an additional 280,345 shares during the period. Finally, Swiss National Bank lifted its holdings in CareDx by 2.3% in the third quarter. Swiss National Bank now owns 118,200 shares of the company’s stock valued at $827,000 after acquiring an additional 2,700 shares during the period.

About CareDx

(Get Free Report)

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.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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