ValuEngine Upgrades CareDx, Inc. (CDNA) to Sell
CareDx, Inc. (NASDAQ:CDNA) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.
Separately, Zacks Investment Research upgraded CareDx from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th.
Shares of CareDx (NASDAQ CDNA) opened at 2.98 on Thursday. The stock’s 50 day moving average price is $1.56 and its 200-day moving average price is $1.45. CareDx has a 1-year low of $0.76 and a 1-year high of $4.94. The stock’s market cap is $67.17 million.
CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.19) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.19). CareDx had a negative return on equity of 85.68% and a negative net margin of 61.27%. The firm had revenue of $12.05 million for the quarter, compared to the consensus estimate of $11.87 million. On average, equities research analysts forecast that CareDx will post ($0.82) earnings per share for the current year.
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In related news, major shareholder Neil Gagnon acquired 63,120 shares of CareDx stock in a transaction that occurred on Friday, June 23rd. The shares were purchased at an average price of $1.10 per share, for a total transaction of $69,432.00. Following the completion of the transaction, the insider now owns 886,216 shares in the company, valued at approximately $974,837.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have purchased 67,739 shares of company stock worth $75,685. 5.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Gagnon Securities LLC increased its position in shares of CareDx by 12.8% in the first quarter. Gagnon Securities LLC now owns 2,026,338 shares of the company’s stock worth $2,837,000 after buying an additional 230,494 shares during the last quarter. Royce & Associates LP boosted its stake in CareDx by 23.5% in the first quarter. Royce & Associates LP now owns 526,472 shares of the company’s stock valued at $737,000 after buying an additional 100,111 shares during the period. Finally, Stonepine Capital Management LLC acquired a new stake in CareDx during the second quarter valued at about $212,000. Hedge funds and other institutional investors own 35.58% of the company’s stock.
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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