CareDx (NASDAQ:CDNA) Upgraded to "Buy" at StockNews.com

CareDx (NASDAQ:CDNA - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

A number of other brokerages also recently issued reports on CDNA. Craig Hallum reiterated a "buy" rating and issued a $15.00 price objective on shares of CareDx in a research report on Thursday. Stephens reiterated an "overweight" rating and set a $15.00 price target on shares of CareDx in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.00.

CareDx Stock Up 34.1 %

CDNA traded up $3.77 during trading on Friday, reaching $14.83. 2,493,469 shares of the company were exchanged, compared to its average volume of 923,972. The company has a market cap of $767.88 million, a price-to-earnings ratio of -4.19 and a beta of 1.51. CareDx has a 12-month low of $4.80 and a 12-month high of $15.30. The company's 50-day moving average is $9.79 and its two-hundred day moving average is $9.52.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CDNA. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CareDx by 23.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,751 shares of the company's stock worth $82,000 after purchasing an additional 2,211 shares in the last quarter. Strs Ohio boosted its stake in CareDx by 9.6% in the third quarter. Strs Ohio now owns 36,500 shares of the company's stock worth $255,000 after buying an additional 3,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in CareDx by 8.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 276,751 shares of the company's stock valued at $1,937,000 after acquiring an additional 20,480 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of CareDx by 3.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,024,503 shares of the company's stock worth $21,172,000 after acquiring an additional 87,378 shares in the last quarter. Finally, Jacob Asset Management of New York LLC lifted its holdings in shares of CareDx by 105.4% in the 3rd quarter. Jacob Asset Management of New York LLC now owns 50,260 shares of the company's stock worth $352,000 after acquiring an additional 25,795 shares during the last quarter.

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.

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