Craig-Hallum notes that CareDx (CDNA) appears to be more outspokenly challenging MolDx’s changes to transplant reimbursement. Based on a website sponsored by CareDx — and potentially owned by CareDx, a new congressional letter is circulating calling out MolDx’s sudden changes to the established coverage policies, how this is impacting transplant patients, and skirting the legal process for policy changes. This comes after Castle Biosciences’ (CSTL) LCD reversal earlier this month, which the firm thought had some parallels to CareDx/Natera’s (NTRA) situation. Craig-Hallum argues that it appears CareDx is rallying behind Castle’s reversal and looking to Congress for help. The firm has a Hold rating and a price target of $8 on CareDx’s shares.
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