Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for CareDx Inc (NASDAQ: CDNA) improved of late. CDNA’s current Value Trend Rating is C and the prior Rating was D. Details supporting this higher rating are included in our next report.
Recent Price Action
CareDx Inc (NASDAQ: CDNA) stock declined modestly by -1.0% on 4/8/24. The stock closed at $9.53. However, this decline was accompanied by exceptionally low trading volume at 33% of normal. The stock has been strong relative to the market over the last nine months but has declined -10.0% during the last week.
Current PriceTarget Research Rating
CDNA is expected to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.
CareDx has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. CareDx has a very low Appreciation Score of 15 but a good Power Rating of 76, triggering the Low Neutral Value Trend Rating.
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