Zacks Investment Research lowered shares of CareDx (NASDAQ:CDNA) from a strong-buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “CareDx, Inc. is a commercial stage company. It develops, markets, and delivers a diagnostic surveillance solution for heart transplant recipients. The Company provides AlloMap, a noninvasive blood test used to aid in the identification of heart transplant recipients. It is also pursuing other areas of transplant surveillance, such as the use of cell-free DNA (cfDNA) as a biomarker for rejection. CareDx, Inc. is based in Brisbane, California. “

A number of other equities research analysts have also recently issued reports on CDNA. ValuEngine upgraded CareDx from a buy rating to a strong-buy rating in a research note on Thursday, October 31st. Piper Jaffray Companies set a $63.00 price objective on CareDx and gave the stock a buy rating in a research note on Friday, November 1st. HC Wainwright set a $43.00 price objective on CareDx and gave the stock a buy rating in a research note on Friday, August 23rd. BidaskClub lowered CareDx from a buy rating to a hold rating in a report on Tuesday, October 22nd. Finally, Raymond James upped their price objective on CareDx from $46.00 to $48.00 and gave the company a strong-buy rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $44.17.

Shares of CareDx stock traded up $0.72 during trading on Wednesday, reaching $20.69. The company’s stock had a trading volume of 695,500 shares, compared to its average volume of 867,451. The stock has a market capitalization of $846.60 million, a P/E ratio of -15.79 and a beta of 0.99. The stock has a 50-day moving average price of $24.82 and a two-hundred day moving average price of $29.15. CareDx has a one year low of $19.11 and a one year high of $41.27.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, October 31st. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. CareDx had a negative return on equity of 21.92% and a negative net margin of 18.25%. The firm had revenue of $33.80 million for the quarter, compared to analysts’ expectations of $33.14 million. The company’s revenue was up 59.4% compared to the same quarter last year. Sell-side analysts forecast that CareDx will post -0.58 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CDNA. BBVA USA Bancshares Inc. acquired a new stake in shares of CareDx during the 3rd quarter worth $464,000. First Trust Advisors LP grew its holdings in shares of CareDx by 3.2% during the 3rd quarter. First Trust Advisors LP now owns 104,191 shares of the company’s stock worth $2,356,000 after purchasing an additional 3,279 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of CareDx by 32.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 410,810 shares of the company’s stock worth $9,288,000 after purchasing an additional 101,155 shares in the last quarter. Tibra Equities Europe Ltd acquired a new stake in shares of CareDx during the 3rd quarter worth $464,000. Finally, California Public Employees Retirement System grew its holdings in shares of CareDx by 13.4% during the 3rd quarter. California Public Employees Retirement System now owns 151,754 shares of the company’s stock worth $3,431,000 after purchasing an additional 17,976 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

CareDx Company Profile

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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