Craig Hallum Reaffirms “Buy” Rating for CareDx (NASDAQ:CDNA)

CareDx (NASDAQ:CDNA)‘s stock had its “buy” rating restated by equities researchers at Craig Hallum in a research note issued on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. Craig Hallum’s target price suggests a potential upside of 37.49% from the company’s previous close.

Separately, Stephens reissued an “overweight” rating and set a $15.00 target price on shares of CareDx in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

CareDx Stock Performance

Shares of NASDAQ:CDNA traded up $0.73 during mid-day trading on Thursday, hitting $10.91. The stock had a trading volume of 1,015,192 shares, compared to its average volume of 896,082. CareDx has a 12-month low of $4.80 and a 12-month high of $12.93. The company has a market cap of $564.91 million, a PE ratio of -3.08 and a beta of 1.51. The company’s 50 day moving average is $9.73 and its 200-day moving average is $9.44.

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

Institutional Trading of CareDx

Several large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in CareDx in the 4th quarter worth approximately $50,000. WINTON GROUP Ltd bought a new stake in shares of CareDx during the 3rd quarter worth $72,000. Nisa Investment Advisors LLC grew its stake in CareDx by 442.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,440 shares of the company’s stock valued at $77,000 after buying an additional 5,253 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CareDx by 23.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company’s stock worth $82,000 after acquiring an additional 2,211 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in CareDx during the 3rd quarter worth $85,000.

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.