Stephens Reiterates Overweight Rating for CareDx (NASDAQ:CDNA)

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

CareDx Trading Up 3.0 %

Shares of CDNA opened at $8.31 on Wednesday. The firm’s 50-day moving average is $9.67 and its two-hundred day moving average is $9.16. CareDx has a twelve month low of $4.80 and a twelve month high of $12.93. The firm has a market capitalization of $430.28 million, a P/E ratio of -2.35 and a beta of 1.42.

CareDx (NASDAQ:CDNA) last issued its earnings results 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). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The company had revenue of $65.57 million for the quarter, compared to analyst estimates of $63.66 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. Analysts predict that CareDx will post -1.59 EPS for the current year.

Institutional Trading of CareDx

Several large investors have recently modified their holdings of CDNA. US Bancorp DE grew its position in shares of CareDx by 34.2% in the first quarter. US Bancorp DE now owns 8,530 shares of the company’s stock valued at $315,000 after purchasing an additional 2,173 shares during the last quarter. Cetera Advisor Networks LLC grew its position in shares of CareDx by 61.2% in the first quarter. Cetera Advisor Networks LLC now owns 7,510 shares of the company’s stock valued at $278,000 after purchasing an additional 2,850 shares during the last quarter. AlphaCrest Capital Management LLC grew its position in shares of CareDx by 80.2% in the first quarter. AlphaCrest Capital Management LLC now owns 11,101 shares of the company’s stock valued at $411,000 after purchasing an additional 4,940 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of CareDx by 56.3% in the first quarter. MetLife Investment Management LLC now owns 27,585 shares of the company’s stock valued at $1,020,000 after purchasing an additional 9,938 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of CareDx by 0.9% in the first quarter. Rhumbline Advisers now owns 55,130 shares of the company’s stock valued at $2,039,000 after purchasing an additional 481 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.