CareDx (NASDAQ:CDNA) Cut to "Sell" at Wall Street Zen

Key Points

• CareDx has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting shifting analyst sentiment towards the stock.
• The company's recent quarterly earnings report showed a loss of ($0.16) EPS, significantly missing expectations and indicating a 6.1% decline in revenue year-over-year.
• Shares of CareDx are currently trading at $14.39, with an average price target of $25.50 according to consensus ratings from various analysts.

CareDx (NASDAQ:CDNA - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday.

Several other research firms have also commented on CDNA. Weiss Ratings reiterated a "sell (d+)" rating on shares of CareDx in a report on Wednesday. William Blair started coverage on CareDx in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Craig Hallum reduced their price target on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, July 18th. BTIG Research reiterated a "buy" rating and set a $22.00 price target on shares of CareDx in a report on Tuesday, September 23rd. Finally, Wells Fargo & Company reduced their price target on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $25.50.

CareDx Stock Down 2.3%

Shares of CDNA opened at $14.39 on Friday. CareDx has a 52-week low of $10.96 and a 52-week high of $31.52. The firm's fifty day moving average is $13.58 and its two-hundred day moving average is $16.03. The stock has a market cap of $765.98 million, a PE ratio of 14.11 and a beta of 2.37.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company had revenue of $90.51 million for the quarter, compared to analysts' expectations of $90.72 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm's revenue was down 6.1% on a year-over-year basis. As a group, research analysts anticipate that CareDx will post -0.9 earnings per share for the current year.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in CareDx in the 1st quarter valued at about $375,000. Acadian Asset Management LLC increased its stake in CareDx by 6.1% during the first quarter. Acadian Asset Management LLC now owns 359,303 shares of the company's stock worth $6,373,000 after purchasing an additional 20,806 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in CareDx by 67.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company's stock worth $950,000 after purchasing an additional 21,627 shares during the period. US Bancorp DE increased its stake in CareDx by 7.2% during the first quarter. US Bancorp DE now owns 18,403 shares of the company's stock worth $327,000 after purchasing an additional 1,235 shares during the period. Finally, Strs Ohio purchased a new stake in CareDx during the first quarter worth about $462,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.