CareDx (NASDAQ:CDNA) Cut to “Hold” at StockNews.com

StockNews.com cut shares of CareDx (NASDAQ:CDNA) from a buy rating to a hold rating in a research note published on Tuesday.

CDNA has been the subject of several other reports. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. HC Wainwright reiterated a “neutral” rating and set a $26.00 price target on shares of CareDx in a report on Tuesday, January 14th. Finally, BTIG Research dropped their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and four have given 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 price target of $28.33.

CareDx Stock Performance

NASDAQ:CDNA opened at $23.38 on Tuesday. CareDx has a fifty-two week low of $7.42 and a fifty-two week high of $34.84. The company has a 50 day simple moving average of $22.70 and a two-hundred day simple moving average of $25.41. The company has a market capitalization of $1.25 billion, a PE ratio of -8.66 and a beta of 1.87.

Insider Activity at CareDx

In related news, Director Peter Maag sold 5,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. CWM LLC boosted its stake in CareDx by 560.1% during the 3rd quarter. CWM LLC now owns 7,604 shares of the company’s stock valued at $237,000 after purchasing an additional 6,452 shares during the last quarter. Creative Planning purchased a new position in CareDx during the 3rd quarter worth $204,000. Allspring Global Investments Holdings LLC grew its stake in shares of CareDx by 868.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock worth $6,401,000 after acquiring an additional 183,823 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of CareDx in the third quarter valued at about $239,000. Finally, Hanseatic Management Services Inc. purchased a new position in CareDx during the third quarter worth about $781,000.

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.