HC Wainwright Lowers CareDx (NASDAQ:CDNA) Price Target to $25.00

CareDx (NASDAQ:CDNA) had its price target cut by HC Wainwright from $26.00 to $25.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CareDx currently has an average rating of “Moderate Buy” and a consensus price target of $31.83.

CareDx Stock Performance

Shares of CDNA stock opened at $20.42 on Monday. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The company has a 50-day simple moving average of $22.67 and a two-hundred day simple moving average of $25.05. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -7.56 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $1.46. The firm had revenue of $86.58 million during the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. On average, sell-side analysts forecast that CareDx will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of CareDx during the third quarter valued at approximately $27,000. Sterling Capital Management LLC raised its holdings in shares of CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after purchasing an additional 1,126 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx during the third quarter valued at approximately $52,000. Tower Research Capital LLC TRC increased its holdings in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after buying an additional 3,322 shares during the last quarter. Finally, State of Wyoming purchased a new stake in CareDx during the fourth quarter valued at approximately $91,000.

CareDx Company Profile

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.