CareDx (NASDAQ:CDNA) Cut to Sell at BidaskClub

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BidaskClub downgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a sell rating in a report issued on Friday morning, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on the company. Raymond James reaffirmed an outperform rating and set a C$28.00 price target on shares of Wheaton Precious Metals in a report on Friday, March 22nd. Zacks Investment Research cut Farmland Partners from a hold rating to a sell rating in a research note on Friday, July 12th. Piper Jaffray Companies lifted their target price on Beigene to $180.00 and gave the company an overweight rating in a research note on Thursday, May 9th. TheStreet cut ZovioInc . from a c- rating to a d rating in a research note on Thursday, May 23rd. Finally, HC Wainwright lifted their target price on Palatin Technologies from $5.00 to $6.00 and gave the company a buy rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $41.50.

CDNA stock opened at $31.72 on Friday. The company’s fifty day simple moving average is $36.10. CareDx has a fifty-two week low of $11.93 and a fifty-two week high of $41.27.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.03). CareDx had a negative net margin of 51.21% and a negative return on equity of 52.93%. The business had revenue of $25.98 million for 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 news, insider Sasha King sold 9,542 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $35.74, for a total value of $341,031.08. Following the transaction, the insider now directly owns 62,045 shares in the company, valued at approximately $2,217,488.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Brian Bell sold 14,894 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $32.42, for a total value of $482,863.48. Following the completion of the transaction, the chief financial officer now owns 90,623 shares in the company, valued at $2,937,997.66. The disclosure for this sale can be found here. Insiders sold a total of 188,430 shares of company stock valued at $6,410,528 over the last three months. Insiders own 3.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in shares of CareDx by 6.7% in the 1st quarter. Meeder Asset Management Inc. now owns 6,072 shares of the company’s stock worth $191,000 after purchasing an additional 380 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of CareDx by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,575 shares of the company’s stock worth $396,000 after purchasing an additional 810 shares during the last quarter. Rhumbline Advisers boosted its position in shares of CareDx by 2.2% in the 1st quarter. Rhumbline Advisers now owns 46,344 shares of the company’s stock worth $1,461,000 after purchasing an additional 987 shares during the last quarter. Legal & General Group Plc boosted its position in shares of CareDx by 19.5% in the 4th quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock worth $154,000 after purchasing an additional 998 shares during the last quarter. Finally, Covenant Multifamily Offices LLC bought a new position in shares of CareDx in the 1st quarter worth $32,000. Institutional investors and hedge funds own 88.87% of the company’s stock.

About CareDx

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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