CareDx (NASDAQ:CDNA) Upgraded at StockNews.com

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

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

CareDx Stock Up 3.5 %

Shares of NASDAQ CDNA traded up $0.81 during trading hours on Monday, hitting $23.69. The company had a trading volume of 1,544,651 shares, compared to its average volume of 897,299. The stock has a market capitalization of $1.25 billion, a P/E ratio of -6.93 and a beta of 1.78. The firm’s 50 day moving average is $16.00 and its 200-day moving average is $12.22. CareDx has a 1-year low of $4.80 and a 1-year high of $26.50.

CareDx (NASDAQ:CDNA) last released its 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. The company had revenue of $72.05 million for the quarter, compared to analyst estimates of $63.63 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, sell-side analysts predict that CareDx will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On CareDx

Large investors have recently modified their holdings of the company. Caxton Associates LP lifted its position in CareDx by 97.2% during the first quarter. Caxton Associates LP now owns 96,308 shares of the company’s stock valued at $1,020,000 after purchasing an additional 47,469 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in CareDx by 87.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 228,198 shares of the company’s stock valued at $2,417,000 after purchasing an additional 106,660 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in CareDx by 138.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 237,115 shares of the company’s stock valued at $2,845,000 after purchasing an additional 137,842 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of CareDx during the first quarter worth approximately $13,025,000. Finally, Russell Investments Group Ltd. raised its stake in shares of CareDx by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 122,227 shares of the company’s stock worth $1,294,000 after acquiring an additional 31,667 shares in the last quarter.

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.