CareDx (NASDAQ:CDNA) Downgraded by StockNews.com to “Hold”

CareDx (NASDAQ:CDNA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other brokerages have also recently issued reports on CDNA. 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. HC Wainwright restated a “neutral” rating and set a $26.00 price target on shares of CareDx in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $24.00 in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CareDx has an average rating of “Moderate Buy” and an average price target of $28.33.

CareDx Price Performance

Shares of NASDAQ:CDNA opened at $24.70 on Tuesday. CareDx has a 1 year low of $7.42 and a 1 year high of $34.84. The firm has a market capitalization of $1.32 billion, a PE ratio of -9.15 and a beta of 1.87. The business’s 50 day moving average price is $22.70 and its 200-day moving average price is $25.42.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 5,000 shares of CareDx stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director now owns 330,024 shares in the company, valued at $8,250,600. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by insiders.

Institutional Trading of CareDx

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in CareDx in the third quarter valued at about $27,000. Thompson Davis & CO. Inc. lifted its holdings in shares of CareDx by 6.3% in the 4th quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company’s stock worth $344,000 after acquiring an additional 950 shares during the last quarter. Royce & Associates LP boosted its position in shares of CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after purchasing an additional 1,000 shares during the period. Hsbc Holdings PLC increased its holdings in CareDx by 6.9% in the 4th quarter. Hsbc Holdings PLC now owns 17,131 shares of the company’s stock valued at $365,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in CareDx by 1.3% in the 4th quarter. Legal & General Group Plc now owns 89,751 shares of the company’s stock valued at $1,922,000 after purchasing an additional 1,118 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.