CareDx’s (CDNA) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of CareDx (NASDAQ:CDNA) in a report issued on Wednesday morning, Benzinga reports. They currently have a $15.00 target price on the stock.

CareDx Stock Performance

CDNA stock opened at $8.31 on Wednesday. The firm has a market cap of $430.28 million, a PE ratio of -2.35 and a beta of 1.42. The firm’s 50 day moving average price is $9.67 and its 200-day moving average price is $9.16. CareDx has a one year low of $4.80 and a one year high of $12.93.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.97). The firm had revenue of $65.57 million for the quarter, compared to analysts’ expectations of $63.66 million. CareDx had a negative net margin of 67.88% and a negative return on equity of 51.40%. The firm’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) EPS. Equities research analysts predict that CareDx will post -1.59 EPS for the current fiscal year.

Institutional Trading of CareDx

Several institutional investors have recently added to or reduced their stakes in CDNA. Virtus Fund Advisers LLC acquired a new stake in CareDx in the 4th quarter valued at approximately $39,000. Point72 Europe London LLP acquired a new stake in CareDx in the 4th quarter valued at approximately $41,000. US Bancorp DE increased its holdings in CareDx by 95.8% in the 4th quarter. US Bancorp DE now owns 3,508 shares of the company’s stock valued at $42,000 after purchasing an additional 1,716 shares during the last quarter. Headlands Technologies LLC acquired a new stake in CareDx in the 4th quarter valued at approximately $50,000. Finally, Royal Bank of Canada increased its holdings in CareDx by 127.6% in the 2nd quarter. Royal Bank of Canada now owns 8,430 shares of the company’s stock valued at $71,000 after purchasing an additional 4,726 shares during the last quarter.

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.