CareDx Inc. (CDNA) Upgraded to Hold at Zacks Investment Research
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. “
Several other research analysts have also issued reports on the stock. Piper Jaffray Cos. reiterated an overweight rating and issued a $6.00 target price on shares of CareDx in a research report on Wednesday, June 15th. Leerink Swann restated a buy rating on shares of CareDx in a research report on Tuesday, June 14th. Finally, Mizuho upped their price target 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $9.25.
CareDx (NASDAQ:CDNA) traded up 1.8901% during midday trading on Tuesday, hitting $3.8005. The company had a trading volume of 601 shares. CareDx has a 52 week low of $3.28 and a 52 week high of $6.87. The firm’s market capitalization is $72.12 million. The firm’s 50 day moving average is $4.20 and its 200-day moving average is $4.58.
CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, August 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $0.01. CareDx had a negative return on equity of 59.77% and a negative net margin of 91.21%. The company earned $10.70 million during the quarter, compared to analysts’ expectations of $10.42 million. During the same quarter last year, the firm posted ($0.27) earnings per share. The firm’s revenue was up 50.7% on a year-over-year basis. On average, equities research analysts expect that CareDx will post ($1.05) EPS for the current fiscal year.
In related news, major shareholder Neil Gagnon bought 178,686 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were bought at an average price of $4.00 per share, for a total transaction of $714,744.00. Following the completion of the acquisition, the insider now owns 613,473 shares of the company’s stock, valued at approximately $2,453,892. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.33% of the company’s stock.
A number of large investors have recently modified their holdings of CDNA. Royce & Associates LP boosted its stake 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 in the last quarter. Gagnon Securities LLC boosted its stake 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 in the last quarter. Vanguard Group Inc. boosted its stake 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 in the last quarter. Finally, Gagnon Advisors LLC boosted its stake 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 in 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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