HC Wainwright Reiterates “Hold” Rating for CareDx (CDNA)

CareDx (NASDAQ:CDNA)‘s stock had its “hold” rating reaffirmed by HC Wainwright in a report released on Monday, February 4th. They presently have a $27.00 price target on the stock. HC Wainwright’s price target would indicate a potential downside of 14.66% from the stock’s current price.

The analysts wrote, “As we roll forward the DCF analysis, our estimated market value of the firm has increased slightly to $1,127M from $1,123M, Our price target is derived from the market value of the firm, which includes a discounted cash flow analysis based asset value for pre- and post-transplant tests, using a 15% discount rate and 2%.””

Several other equities analysts have also issued reports on CDNA. Raymond James reissued a “strong-buy” rating and set a $30.00 price objective on shares of CareDx in a report on Tuesday, October 23rd. Zacks Investment Research raised shares of CareDx from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Craig Hallum reissued a “buy” rating and set a $40.00 price objective on shares of CareDx in a report on Friday, November 9th. Finally, BidaskClub lowered shares of CareDx from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 15th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. CareDx currently has a consensus rating of “Buy” and an average price target of $33.50.

CDNA stock traded up $0.52 during trading on Monday, hitting $31.64. 1,073,465 shares of the company’s stock traded hands, compared to its average volume of 559,974. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -41.09 and a beta of 1.20. The company has a quick ratio of 2.36, a current ratio of 2.65 and a debt-to-equity ratio of 0.30. CareDx has a 1 year low of $5.51 and a 1 year high of $31.93.

In other news, insider James P. Yee sold 32,500 shares of CareDx stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $23.88, for a total transaction of $776,100.00. Following the completion of the sale, the insider now directly owns 73,543 shares in the company, valued at $1,756,206.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sasha King sold 7,500 shares of CareDx stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $29.03, for a total transaction of $217,725.00. Following the sale, the insider now owns 81,387 shares of the company’s stock, valued at $2,362,664.61. The disclosure for this sale can be found here. Insiders sold 72,822 shares of company stock worth $1,828,484 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Several large investors have recently bought and sold shares of CDNA. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in CareDx during the fourth quarter valued at $45,000. First Interstate Bank acquired a new position in CareDx during the fourth quarter valued at $80,000. Great West Life Assurance Co. Can acquired a new position in CareDx during the fourth quarter valued at $81,000. Meeder Asset Management Inc. acquired a new position in CareDx during the third quarter valued at $124,000. Finally, Voya Investment Management LLC acquired a new position in CareDx during the second quarter valued at $153,000. Institutional investors and hedge funds own 79.20% of the company’s stock.

About CareDx

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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