BlackRock Inc. Boosts Stake in CareDx Inc (CDNA)
BlackRock Inc. lifted its position in shares of CareDx Inc (NASDAQ:CDNA) by 62.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,864 shares of the company’s stock after buying an additional 21,384 shares during the quarter. BlackRock Inc. owned about 0.16% of CareDx worth $445,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CDNA. Cambridge Investment Research Advisors Inc. lifted its stake in CareDx by 26.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 81,330 shares of the company’s stock valued at $648,000 after buying an additional 16,904 shares during the period. Trexquant Investment LP lifted its stake in CareDx by 335.2% in the first quarter. Trexquant Investment LP now owns 71,231 shares of the company’s stock valued at $568,000 after buying an additional 54,862 shares during the period. Clear Harbor Asset Management LLC acquired a new position in CareDx in the first quarter valued at approximately $230,000. Macquarie Group Ltd. acquired a new position in CareDx in the fourth quarter valued at approximately $190,000. Finally, Millennium Management LLC acquired a new position in CareDx in the fourth quarter valued at approximately $336,000. 54.98% of the stock is owned by institutional investors.
Shares of CareDx opened at $14.70 on Tuesday, MarketBeat.com reports. The company has a current ratio of 2.43, a quick ratio of 2.06 and a debt-to-equity ratio of 0.29. CareDx Inc has a twelve month low of $1.30 and a twelve month high of $16.00. The company has a market cap of $503.14 million, a PE ratio of -19.09 and a beta of 0.51.
In other news, COO Mitchell J. Nelles sold 39,649 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $12.48, for a total transaction of $494,819.52. Following the transaction, the chief operating officer now directly owns 89,639 shares of the company’s stock, valued at $1,118,694.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sasha King sold 9,458 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $14.03, for a total value of $132,695.74. Following the transaction, the insider now directly owns 71,792 shares in the company, valued at $1,007,241.76. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Several brokerages have issued reports on CDNA. HC Wainwright lowered CareDx from a “buy” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Tuesday, June 19th. TheStreet lowered CareDx from a “c-” rating to a “d” rating in a research note on Monday, June 11th. Piper Jaffray Companies reissued an “overweight” rating and issued a $17.00 price target on shares of CareDx in a research note on Wednesday, June 6th. BidaskClub lowered CareDx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 23rd. Finally, Zacks Investment Research lowered CareDx from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. CareDx presently has a consensus rating of “Buy” and a consensus price target of $12.50.
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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