Wall Street Analyst Downgrade CareDx Inc [CDNA]. What else is Wall St. saying

CareDx Inc [NASDAQ: CDNA] traded at a high on 03/06/23, posting a 18.73 gain after which it closed the day’ session at $10.65. The company report on March 6, 2023 that CareDx Update Regarding Raymond James & Associates’ Conference.

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CareDx, Inc. (Nasdaq: CDNA) – The Transplant Company™ focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers – today announced that the Company has determined not to participate in the Raymond James & Associates’ 44th Annual Institutional Investors Conference scheduled for later today in light of scheduling conflicts. The company looks forward to providing its next corporate update in the near term.

The results of the trading session contributed to over 5308971 shares changing hands. Over the past one week, the price volatility of CareDx Inc stands at 28.51% while the volatility over the past one month is 11.04%.

The market cap for CDNA stock reached $685.97 million, with 53.53 million shares outstanding and 52.24 million shares in the current float. Compared to the average trading volume of 1.34M shares, CDNA reached a trading volume of 5308971 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about CareDx Inc [CDNA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDNA shares is $20.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDNA stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for CareDx Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on March 03, 2023. While these analysts kept the previous recommendation, Craig Hallum raised their target price from $26 to $9. The new note on the price target was released on March 03, 2023, representing the official price target for CareDx Inc stock. Previously, the target price had yet another raise to $50, while Stephens analysts kept a Overweight rating on CDNA stock.

The Average True Range (ATR) for CareDx Inc is set at 1.61, with the Price to Sales ratio for CDNA stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 4.55.

How has CDNA stock performed recently?

CareDx Inc [CDNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.60. With this latest performance, CDNA shares dropped by -39.52% in over the last four-week period, additionally sinking by -47.56% over the last 6 months – not to mention a drop of -69.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDNA stock in for the last two-week period is set at 37.53, with the RSI for the last a single of trading hit 35.29, and the three-weeks RSI is set at 39.68 for CareDx Inc [CDNA]. The present Moving Average for the last 50 days of trading for this stock 13.85, while it was recorded at 12.64 for the last single week of trading, and 18.13 for the last 200 days.

CareDx Inc [CDNA]: Deeper insight into the fundamentals

CareDx Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.10.

Earnings analysis for CareDx Inc [CDNA]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CareDx Inc go to 20.00%.

Insider trade positions for CareDx Inc [CDNA]

There are presently around $620 million, in the hands of institutional investors. The top three institutional holders of CDNA stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 6,188,182, which is approximately 6.93% of the company’s market cap and around 2.30% of the total institutional ownership; STATE STREET CORP, holding 5,747,244 shares of the stock with an approximate value of $61.21 million in CDNA stocks shares; and VANGUARD GROUP INC, currently with $56.13 million in CDNA stock with ownership of nearly 4.045% of the company’s market capitalization.

97 institutional holders increased their position in CareDx Inc [NASDAQ:CDNA] by around 9,520,526 shares. Additionally, 88 investors decreased positions by around 7,923,745 shares, while 25 investors held positions by with 40,778,616 shares. The mentioned changes placed institutional holdings at 58,222,887 shares, according to the latest SEC report filing. CDNA stock had 26 new institutional investments in for a total of 953,155 shares, while 35 institutional investors sold positions of 3,950,592 shares during the same period.


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