CareDx’s (CDNA) “Hold” Rating Reaffirmed at HC Wainwright

CareDx (NASDAQ:CDNA)‘s stock had its “hold” rating restated by equities research analysts at HC Wainwright in a research report issued on Thursday. They currently have a $15.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 22.55% from the company’s current price.

CDNA has been the subject of a number of other reports. ValuEngine upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. TheStreet cut shares of CareDx from a “c-” rating to a “d” rating in a research note on Monday, June 11th. BidaskClub upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 25th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $17.00 price objective on shares of CareDx in a research note on Wednesday, June 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $11.25.

CDNA stock opened at $12.24 on Thursday. The company has a market capitalization of $445.27 million, a P/E ratio of -15.90 and a beta of 0.46. The company has a quick ratio of 2.06, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. CareDx has a 52 week low of $1.05 and a 52 week high of $16.00.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, May 10th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.91 million. CareDx had a negative return on equity of 158.93% and a negative net margin of 115.91%. equities research analysts forecast that CareDx will post -0.49 EPS for the current fiscal year.

In other CareDx news, major shareholder Neil Gagnon acquired 10,136 shares of the firm’s stock in a transaction on Thursday, April 26th. The stock was acquired at an average cost of $9.42 per share, for a total transaction of $95,481.12. Following the purchase, the insider now owns 928,768 shares in the company, valued at approximately $8,748,994.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Next Century Growth Investors LLC lifted its stake in CareDx by 101.1% during the 1st quarter. Next Century Growth Investors LLC now owns 1,576,858 shares of the company’s stock valued at $12,567,000 after acquiring an additional 792,629 shares during the period. Fred Alger Management Inc. acquired a new position in shares of CareDx in the 4th quarter valued at $9,089,000. Perceptive Advisors LLC acquired a new position in shares of CareDx in the 4th quarter valued at $7,639,000. Gagnon Advisors LLC lifted its stake in shares of CareDx by 26,929.4% in the 4th quarter. Gagnon Advisors LLC now owns 955,758 shares of the company’s stock valued at $7,015,000 after purchasing an additional 952,222 shares during the period. Finally, Stonepine Capital Management LLC acquired a new position in shares of CareDx in the 4th quarter valued at $6,753,000. Institutional investors and hedge funds own 52.55% of the company’s stock.

CareDx Company Profile

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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