CareDx (NASDAQ:CDNA) Raised to “Buy” at StockNews.com

CareDx (NASDAQ:CDNA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other equities analysts have also recently weighed in on CDNA. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. BTIG Research lowered their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, HC Wainwright reissued a “neutral” rating and issued a $26.00 price target on shares of CareDx in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

CareDx Stock Down 2.2 %

Shares of NASDAQ:CDNA opened at $20.89 on Wednesday. CareDx has a 52-week low of $7.42 and a 52-week high of $34.84. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -7.74 and a beta of 1.87. The business has a 50-day moving average price of $22.64 and a 200-day moving average price of $25.32.

Institutional Trading of CareDx

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in CareDx during the third quarter worth about $27,000. Sterling Capital Management LLC boosted its holdings in CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after acquiring an additional 1,126 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of CareDx during the 3rd quarter worth about $52,000. Tower Research Capital LLC TRC increased its position in shares of CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after acquiring an additional 3,322 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of CareDx in the fourth quarter valued at about $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.