CareDx (NASDAQ:CDNA) Cut to Hold at StockNews.com

StockNews.com lowered shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a report issued on Tuesday.

A number of other equities research analysts also recently issued reports on CDNA. BTIG Research reduced their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. HC Wainwright reissued a “neutral” rating and set a $26.00 target price on shares of CareDx in a report on Tuesday, January 14th. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

CareDx Stock Down 5.3 %

NASDAQ CDNA opened at $23.38 on Tuesday. CareDx has a 12-month low of $7.42 and a 12-month high of $34.84. The firm has a 50-day moving average price of $22.70 and a two-hundred day moving average price of $25.41. The company has a market capitalization of $1.25 billion, a P/E ratio of -8.66 and a beta of 1.87.

Insider Activity at CareDx

In other news, Director Peter Maag sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the director now owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CareDx

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new stake in shares of CareDx during the fourth quarter worth $631,000. Public Employees Retirement System of Ohio boosted its holdings in shares of CareDx by 6.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 53,672 shares of the company’s stock valued at $1,149,000 after acquiring an additional 3,287 shares in the last quarter. Castleark Management LLC grew its position in CareDx by 41.7% during the 4th quarter. Castleark Management LLC now owns 198,180 shares of the company’s stock worth $4,243,000 after acquiring an additional 58,300 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CareDx by 124.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock worth $2,577,000 after purchasing an additional 66,833 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in CareDx by 7.7% in the fourth quarter. Squarepoint Ops LLC now owns 231,235 shares of the company’s stock valued at $4,951,000 after purchasing an additional 16,484 shares during the last quarter.

About CareDx

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.