Stephens Reaffirms "Overweight" Rating for CareDx (NASDAQ:CDNA)

Stephens restated their overweight rating on shares of CareDx (NASDAQ:CDNA - Free Report) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $15.00 price objective on the stock.

CareDx Trading Up 5.5 %

Shares of CareDx stock traded up $0.43 on Wednesday, hitting $8.28. 2,009,569 shares of the company traded hands, compared to its average volume of 919,420. The firm's 50-day simple moving average is $9.69 and its 200 day simple moving average is $9.16. The company has a market cap of $428.74 million, a P/E ratio of -2.34 and a beta of 1.42. CareDx has a 12-month low of $4.80 and a 12-month high of $12.93.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($1.97). The company had revenue of $65.57 million for the quarter, compared to analysts' expectations of $63.66 million. CareDx had a negative net margin of 67.88% and a negative return on equity of 51.40%. The business's quarterly revenue was down 20.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) EPS. Analysts predict that CareDx will post -1.59 earnings per share for the current year.

Institutional Trading of CareDx

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtus Fund Advisers LLC purchased a new position in CareDx in the 4th quarter worth $39,000. Point72 Europe London LLP purchased a new position in CareDx in the 4th quarter worth $41,000. US Bancorp DE raised its position in CareDx by 95.8% in the 4th quarter. US Bancorp DE now owns 3,508 shares of the company's stock worth $42,000 after purchasing an additional 1,716 shares during the period. Headlands Technologies LLC purchased a new position in CareDx in the 4th quarter worth $50,000. Finally, Royal Bank of Canada raised its position in CareDx by 127.6% in the 2nd quarter. Royal Bank of Canada now owns 8,430 shares of the company's stock worth $71,000 after purchasing an additional 4,726 shares during the period.

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.