CareDx (NASDAQ:CDNA) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, BidAskClub reports.

Other analysts have also recently issued reports about the stock. Raymond James restated an “outperform” rating and issued a C$28.00 price objective on shares of Wheaton Precious Metals in a research note on Friday, March 22nd. HC Wainwright increased their price objective on Palatin Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Craig Hallum set a $48.00 price objective on CareDx and gave the stock a “positive” rating in a report on Thursday, July 11th. TheStreet cut ZovioInc . from a “c-” rating to a “d” rating in a report on Thursday, May 23rd. Finally, Zacks Investment Research cut Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. CareDx presently has an average rating of “Buy” and a consensus price target of $41.50.

Shares of CDNA stock opened at $31.72 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -24.21 and a beta of 0.91. CareDx has a fifty-two week low of $11.93 and a fifty-two week high of $41.27. The stock has a 50 day simple moving average of $36.10.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.03). CareDx had a negative return on equity of 52.93% and a negative net margin of 51.21%. The business had revenue of $25.98 million during the quarter, compared to analyst estimates of $24.27 million. Equities analysts anticipate that CareDx will post -0.53 earnings per share for the current fiscal year.

In other CareDx news, Director William A. Hagstrom sold 15,000 shares of CareDx stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.35, for a total transaction of $485,250.00. Following the completion of the transaction, the director now directly owns 25,272 shares of the company’s stock, valued at $817,549.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sasha King sold 1,250 shares of CareDx stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $29.50, for a total transaction of $36,875.00. Following the transaction, the insider now directly owns 77,427 shares of the company’s stock, valued at $2,284,096.50. The disclosure for this sale can be found here. Insiders sold 188,430 shares of company stock worth $6,410,528 over the last quarter. Company insiders own 3.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CDNA. Redwood Investments LLC purchased a new position in shares of CareDx in the first quarter worth $11,236,000. MUFG Securities EMEA plc purchased a new position in shares of CareDx in the 4th quarter valued at $6,388,000. BlackRock Inc. raised its stake in shares of CareDx by 7.0% in the 4th quarter. BlackRock Inc. now owns 2,491,800 shares of the company’s stock valued at $62,644,000 after acquiring an additional 162,939 shares during the period. Spark Investment Management LLC purchased a new position in shares of CareDx in the 1st quarter valued at $4,330,000. Finally, SG Americas Securities LLC purchased a new position in shares of CareDx in the 1st quarter valued at $4,136,000. 88.87% of the stock is owned by hedge funds and other institutional investors.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Analyst Recommendations for CareDx (NASDAQ:CDNA)

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