CareDx Inc. (NASDAQ:CDNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “
CDNA has been the topic of several other research reports. Leerink Swann reiterated a “buy” rating on shares of CareDx in a research note on Tuesday, June 14th. Mizuho upped their target price on shares of CareDx from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $6.00 target price on shares of CareDx in a research report on Wednesday, June 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CareDx currently has an average rating of “Buy” and an average price target of $9.25.
Shares of CareDx (NASDAQ:CDNA) opened at 3.78 on Tuesday. The company’s market capitalization is $71.73 million. CareDx has a 1-year low of $3.28 and a 1-year high of $6.87. The company has a 50 day moving average price of $4.18 and a 200 day moving average price of $4.58.
CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by $0.01. The company earned $10.70 million during the quarter, compared to analysts’ expectations of $10.42 million. CareDx had a negative return on equity of 59.77% and a negative net margin of 91.21%. The firm’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.27) EPS. Equities analysts predict that CareDx will post ($1.05) EPS for the current fiscal year.
In other news, major shareholder Neil Gagnon purchased 178,686 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were bought at an average cost of $4.00 per share, for a total transaction of $714,744.00. Following the acquisition, the insider now owns 613,473 shares of the company’s stock, valued at approximately $2,453,892. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.33% of the company’s stock.
A number of institutional investors have recently modified their holdings of CDNA. Royce & Associates LP increased its position in shares of CareDx by 15.5% in the first quarter. Royce & Associates LP now owns 85,917 shares of the company’s stock valued at $426,000 after buying an additional 11,503 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock valued at $1,323,000 after buying an additional 225,863 shares during the last quarter. Gagnon Advisors LLC increased its position in shares of CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock valued at $4,105,000 after buying an additional 275,496 shares during the last quarter. Finally, Gagnon Securities LLC increased its position in shares of CareDx by 13.5% in the second quarter. Gagnon Securities LLC now owns 1,339,005 shares of the company’s stock valued at $5,771,000 after buying an additional 159,491 shares during the last quarter. Institutional investors own 30.84% of the company’s stock.
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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