Vanguard Group Inc. Cuts Stock Position in CareDx, Inc. $CDNA

Vanguard Group Inc. cut its holdings in CareDx, Inc. (NASDAQ:CDNA) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,428,252 shares of the company’s stock after selling 321,455 shares during the quarter. Vanguard Group Inc. owned 6.67% of CareDx worth $64,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNA. FNY Investment Advisers LLC purchased a new stake in shares of CareDx in the third quarter valued at approximately $31,000. State of Alaska Department of Revenue purchased a new stake in shares of CareDx in the third quarter valued at approximately $43,000. Quantbot Technologies LP purchased a new stake in shares of CareDx in the third quarter valued at approximately $89,000. CWM LLC increased its position in shares of CareDx by 119.1% in the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after buying an additional 4,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after buying an additional 4,160 shares in the last quarter.

CareDx Stock Performance

NASDAQ CDNA opened at $20.49 on Friday. The stock’s fifty day moving average is $18.89 and its two-hundred day moving average is $18.67. The firm has a market capitalization of $1.06 billion, a P/E ratio of -128.06 and a beta of 2.49. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $23.24.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 39.3% compared to the same quarter last year. As a group, sell-side analysts forecast that CareDx, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CDNA. Wells Fargo & Company lifted their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. BTIG Research lifted their price target on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Finally, Weiss Ratings lowered CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.00.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 10,282 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $21.12, for a total value of $217,155.84. Following the transaction, the chief executive officer owned 676,475 shares of the company’s stock, valued at $14,287,152. This represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is currently owned by company insiders.

CareDx Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.