Steward Partners Investment Advisory LLC bought a new position in CareDx Inc (NASDAQ:CDNA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,183 shares of the company’s stock, valued at approximately $222,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CDNA. Principal Financial Group Inc. acquired a new position in shares of CareDx in the 4th quarter worth $393,000. Bank of America Corp DE grew its holdings in shares of CareDx by 5.4% in the 4th quarter. Bank of America Corp DE now owns 52,955 shares of the company’s stock worth $1,331,000 after acquiring an additional 2,727 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of CareDx by 19.5% in the 4th quarter. Legal & General Group Plc now owns 6,129 shares of the company’s stock worth $154,000 after acquiring an additional 998 shares during the last quarter. Millennium Management LLC grew its holdings in shares of CareDx by 55.6% in the 4th quarter. Millennium Management LLC now owns 163,023 shares of the company’s stock worth $4,098,000 after acquiring an additional 58,280 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of CareDx in the 4th quarter worth $212,000. Institutional investors and hedge funds own 89.13% of the company’s stock.
In other news, CEO Peter Maag sold 50,000 shares of CareDx stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $28.84, for a total transaction of $1,442,000.00. Following the transaction, the chief executive officer now owns 379,049 shares in the company, valued at $10,931,773.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Brian Bell sold 2,202 shares of CareDx stock in a transaction on Monday, May 20th. The shares were sold at an average price of $32.10, for a total value of $70,684.20. Following the transaction, the chief financial officer now owns 77,930 shares in the company, valued at approximately $2,501,553. The disclosure for this sale can be found here. Insiders have sold 142,286 shares of company stock worth $4,843,989 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.
CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). CareDx had a negative net margin of 38.29% and a negative return on equity of 47.53%. The business had revenue of $31.45 million for the quarter, compared to analysts’ expectations of $27.96 million. As a group, sell-side analysts forecast that CareDx Inc will post -0.7 EPS for the current fiscal year.
CDNA has been the topic of a number of recent research reports. Raymond James lifted their target price on CareDx from $46.00 to $48.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. HC Wainwright restated a “buy” rating on shares of CareDx in a report on Friday, August 2nd. Piper Jaffray Companies lifted their target price on CareDx from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Craig Hallum set a $48.00 target price on CareDx and gave the stock a “positive” rating in a report on Thursday, July 11th. Finally, TheStreet cut CareDx from a “c” rating to a “d” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $44.00.
CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.
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