CareDx (NASDAQ:CDNA) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised CareDx from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Wednesday. HC Wainwright assumed coverage on shares of CareDx in a report on Monday, November 27th. They issued a “buy” rating and a $12.00 price objective for the company. Piper Jaffray Companies restated an “overweight” rating and issued a $7.00 price objective (up from $3.00) on shares of CareDx in a report on Tuesday, September 26th. Raymond James Financial upgraded shares of CareDx from a “market perform” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Wednesday, September 27th. Finally, Craig Hallum restated a “buy” rating and issued a $10.00 price objective (up from $4.00) on shares of CareDx in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $8.65.

Shares of CareDx (NASDAQ CDNA) traded down $0.31 on Wednesday, hitting $6.48. The stock had a trading volume of 197,940 shares, compared to its average volume of 226,535. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of -124.53. CareDx has a 12-month low of $0.76 and a 12-month high of $7.98.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, November 9th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. CareDx had a negative return on equity of 157.00% and a negative net margin of 84.14%. The firm had revenue of $12.19 million for the quarter, compared to analysts’ expectations of $12.05 million. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. analysts forecast that CareDx will post -0.83 earnings per share for the current fiscal year.

In related news, insider James P. Yee sold 29,197 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $7.00, for a total value of $204,379.00. Following the completion of the transaction, the insider now directly owns 74,795 shares in the company, valued at approximately $523,565. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mitchell J. Nelles sold 10,948 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $7.17, for a total transaction of $78,497.16. Following the completion of the transaction, the chief operating officer now owns 84,225 shares of the company’s stock, valued at $603,893.25. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CDNA. Private Wealth Partners LLC raised its holdings in CareDx by 2,250.0% in the 3rd quarter. Private Wealth Partners LLC now owns 235,000 shares of the company’s stock worth $869,000 after acquiring an additional 225,000 shares during the last quarter. Royce & Associates LP raised its stake in CareDx by 39.3% during the 2nd quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after buying an additional 206,815 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in CareDx by 3,294.9% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock valued at $754,000 after buying an additional 197,692 shares during the last quarter. Stonepine Capital Management LLC purchased a new stake in CareDx during the 2nd quarter valued at $212,000. Finally, Perkins Capital Management Inc. purchased a new stake in CareDx during the 3rd quarter valued at $513,000. Institutional investors own 23.14% of the company’s stock.

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CareDx Company Profile

CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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