HC Wainwright Initiates Coverage on CareDx, Inc. (CDNA)

Equities research analysts at HC Wainwright assumed coverage on shares of CareDx, Inc. (NASDAQ:CDNA) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the stock.

Other equities analysts also recently issued research reports about the company. Craig Hallum reissued a “buy” rating and set a $10.00 price target (up previously from $4.00) on shares of CareDx in a research report on Monday, October 9th. Raymond James Financial, Inc. raised CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, September 27th. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Monday, September 4th. Piper Jaffray Companies reissued an “overweight” rating and set a $7.00 price target (up previously from $3.00) on shares of CareDx in a research report on Tuesday, September 26th. Finally, ValuEngine raised CareDx from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $6.69.

CareDx (NASDAQ CDNA) opened at $6.70 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of -124.53. CareDx has a 12-month low of $0.76 and a 12-month high of $6.70.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The firm had revenue of $12.19 million for the quarter, compared to the consensus estimate of $12.05 million. CareDx had a negative return on equity of 157.00% and a negative net margin of 84.14%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. equities research analysts anticipate that CareDx will post -0.83 earnings per share for the current year.

In other news, major shareholder Neil Gagnon acquired 10,642 shares of CareDx stock in a transaction dated Thursday, October 5th. The stock was bought at an average price of $4.00 per share, for a total transaction of $42,568.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Private Wealth Partners LLC boosted its holdings in shares of CareDx by 2,250.0% during the third quarter. Private Wealth Partners LLC now owns 235,000 shares of the company’s stock worth $869,000 after acquiring an additional 225,000 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in shares of CareDx by 3,294.9% during the third quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock worth $754,000 after acquiring an additional 197,692 shares during the period. Perkins Capital Management Inc. bought a new stake in shares of CareDx during the third quarter worth approximately $513,000. Royce & Associates LP boosted its holdings in shares of CareDx by 39.3% during the second quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock worth $814,000 after acquiring an additional 206,815 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in shares of CareDx during the second quarter worth approximately $212,000. Institutional investors own 25.06% of the company’s stock.

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About CareDx

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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