CareDx (NASDAQ:CDNA) Now Covered by William Blair

Key Points

• Analysts at William Blair initiated coverage on CareDx (NASDAQ:CDNA) with a "market perform" rating, amidst mixed reviews from other brokerages.
• CareDx reported a loss of $0.16 per share in its latest quarterly earnings, falling short of analyst estimates, and experienced a 6.1% year-over-year decline in revenue.
• The company's stock has seen significant insider selling, with directors reducing their holdings by approximately 21% to 26% in recent transactions.

William Blair assumed coverage on shares of CareDx (NASDAQ:CDNA - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set a "market perform" rating on the stock.

Several other analysts also recently commented on the stock. Craig Hallum dropped their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, July 18th. HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. Stephens reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. Wall Street Zen downgraded shares of CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company lowered their price target on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

CareDx Stock Up 4.2%

NASDAQ CDNA traded up $0.55 on Tuesday, reaching $13.66. The company had a trading volume of 2,032,168 shares, compared to its average volume of 1,185,343. The stock has a market capitalization of $727.12 million, a PE ratio of 13.39 and a beta of 2.22. The firm's 50 day moving average price is $14.98 and its 200 day moving average price is $17.40. CareDx has a 12 month low of $10.96 and a 12 month high of $32.97.

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

Insider Transactions at CareDx

In other news, Director Peter Maag sold 10,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the sale, the director owned 308,846 shares in the company, valued at approximately $5,738,358.68. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hannah Valantine sold 10,570 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total transaction of $202,521.20. Following the completion of the transaction, the director owned 38,994 shares of the company's stock, valued at $747,125.04. This represents a 21.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,961 shares of company stock worth $966,602. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On CareDx

Several hedge funds have recently modified their holdings of CDNA. Principal Financial Group Inc. raised its stake in shares of CareDx by 3.4% during the first quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after purchasing an additional 640 shares during the period. Sei Investments Co. increased its stake in shares of CareDx by 1.7% in the first quarter. Sei Investments Co. now owns 47,921 shares of the company's stock worth $851,000 after buying an additional 816 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in CareDx by 3.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock valued at $425,000 after purchasing an additional 900 shares during the last quarter. MCF Advisors LLC increased its stake in CareDx by 292.9% during the second quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in CareDx by 6.9% during the fourth 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.

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.