CareDx Inc. (NASDAQ:CDNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $3.75 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 25.00% from the stock’s current price.

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. “

Shares of CareDx (NASDAQ:CDNA) opened at 3.00 on Friday. The stock’s market cap is $56.46 million. The company’s 50-day moving average is $3.74 and its 200-day moving average is $4.37. CareDx has a 12-month low of $3.00 and a 12-month high of $6.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.10. CareDx had a negative net margin of 78.62% and a negative return on equity of 57.94%. The firm had revenue of $12.48 million for the quarter, compared to the consensus estimate of $11.50 million. During the same period in the prior year, the firm posted ($0.29) EPS. The firm’s revenue was up 74.5% compared to the same quarter last year. On average, analysts expect that CareDx will post ($0.96) earnings per share for the current fiscal year.

In other CareDx news, major shareholder Neil Gagnon purchased 178,686 shares of CareDx stock in a transaction dated 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 transaction, the insider now owns 613,473 shares in the company, valued at approximately $2,453,892. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.33% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP increased its position in CareDx by 56.8% in the second quarter. Royce & Associates LP now owns 134,745 shares of the company’s stock worth $582,000 after buying an additional 48,828 shares during the last quarter. Gagnon Securities LLC increased its position in CareDx by 13.5% in the second quarter. Gagnon Securities LLC now owns 1,339,005 shares of the company’s stock worth $5,771,000 after buying an additional 159,491 shares during the last quarter. Vanguard Group Inc. increased its position in CareDx by 281.2% in the second quarter. Vanguard Group Inc. now owns 306,178 shares of the company’s stock worth $1,323,000 after buying an additional 225,863 shares during the last quarter. Finally, Gagnon Advisors LLC increased its position in CareDx by 40.7% in the second quarter. Gagnon Advisors LLC now owns 952,464 shares of the company’s stock worth $4,105,000 after buying an additional 275,496 shares during the last quarter. Institutional investors own 30.41% of the company’s stock.

About CareDx

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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