Piper Jaffray Companies reaffirmed their overweight rating on shares of CareDx, Inc. (NASDAQ:CDNA) in a research note issued to investors on Tuesday morning. They currently have a $7.00 price objective on the stock, up from their prior price objective of $3.00.

Several other research analysts have also issued reports on CDNA. ValuEngine lowered shares of CareDx from a sell rating to a strong sell rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of CareDx from a buy rating to a hold rating in a research note on Thursday, June 8th.

Shares of CareDx (NASDAQ:CDNA) opened at 3.70 on Tuesday. CareDx has a 12 month low of $0.76 and a 12 month high of $4.08. The stock’s 50 day moving average price is $2.27 and its 200-day moving average price is $1.51. The stock’s market capitalization is $83.40 million.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, August 10th. The company reported ($0.19) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.19). The firm had revenue of $12.05 million during the quarter, compared to analyst estimates of $11.87 million. CareDx had a negative net margin of 61.27% and a negative return on equity of 85.68%. Equities analysts forecast that CareDx will post ($0.82) earnings per share for the current fiscal year.

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In other CareDx news, major shareholder Neil Gagnon acquired 21,448 shares of CareDx stock in a transaction on Monday, August 28th. The shares were purchased at an average cost of $2.77 per share, with a total value of $59,410.96. Following the completion of the purchase, the insider now owns 903,731 shares in the company, valued at $2,503,334.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders acquired 65,874 shares of company stock worth $186,018. Insiders own 5.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CDNA. Gagnon Securities LLC boosted its stake in CareDx by 12.8% in the first quarter. Gagnon Securities LLC now owns 2,026,338 shares of the company’s stock valued at $2,837,000 after acquiring an additional 230,494 shares during the last quarter. Royce & Associates LP boosted its stake in CareDx by 39.3% in the second quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after acquiring an additional 206,815 shares during the last quarter. Finally, Stonepine Capital Management LLC bought a new position in CareDx in the second quarter valued at approximately $212,000. 29.15% of the stock is currently owned by hedge funds and other institutional investors.

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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