CareDx (NASDAQ:CDNA) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of CareDx (NASDAQ:CDNA) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other analysts also recently commented on CDNA. William Blair started coverage on CareDx in a research report on Tuesday, August 26th. They set a “market perform” rating for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CareDx in a research report on Wednesday, October 8th. Craig Hallum decreased their price target on CareDx from $40.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Wells Fargo & Company decreased their price target on CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Finally, Zacks Research downgraded CareDx from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, CareDx presently has a consensus rating of “Hold” and a consensus target price of $25.50.

CareDx Trading Up 1.1%

Shares of CDNA opened at $14.67 on Tuesday. The company has a market capitalization of $780.88 million, a price-to-earnings ratio of 14.38 and a beta of 2.37. The stock has a 50 day moving average of $14.19 and a 200 day moving average of $15.75. CareDx has a 12 month low of $10.96 and a 12 month high of $26.37.

CareDx (NASDAQ:CDNA) last issued 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). The business had revenue of $90.51 million for the quarter, compared to analysts’ expectations of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, equities research analysts predict that CareDx will post -0.9 earnings per share for the current year.

Institutional Trading of CareDx

Large investors have recently bought and sold shares of the company. MCF Advisors LLC increased its position in CareDx by 292.9% in the second quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock worth $26,000 after buying an additional 996 shares during the last quarter. Allworth Financial LP bought a new position in shares of CareDx in the second quarter worth $40,000. State of Alaska Department of Revenue bought a new position in shares of CareDx in the third quarter worth $43,000. PNC Financial Services Group Inc. boosted its holdings in shares of CareDx by 20,200.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company’s stock worth $79,000 after acquiring an additional 4,444 shares during the period. Finally, Morse Asset Management Inc bought a new position in shares of CareDx in the first quarter worth $103,000.

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.