Royce & Associates LP Raises Stock Position in CareDx, Inc. $CDNA

Royce & Associates LP increased its stake in CareDx, Inc. (NASDAQ:CDNA) by 43.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 581,211 shares of the company’s stock after purchasing an additional 176,817 shares during the quarter. Royce & Associates LP’s holdings in CareDx were worth $10,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CDNA. Goldman Sachs Group Inc. boosted its holdings in CareDx by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock worth $19,703,000 after purchasing an additional 170,504 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in CareDx by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock worth $2,378,000 after acquiring an additional 13,619 shares during the period. JPMorgan Chase & Co. raised its position in CareDx by 41.2% in the second quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock worth $1,340,000 after acquiring an additional 20,028 shares during the period. First Trust Advisors LP bought a new position in CareDx in the second quarter worth approximately $1,822,000. Finally, Nebula Research & Development LLC bought a new position in CareDx in the second quarter worth approximately $281,000.

CareDx Price Performance

Shares of CDNA stock opened at $22.16 on Thursday. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -138.50 and a beta of 2.49. CareDx, Inc. has a one year low of $10.96 and a one year high of $23.24. The company’s fifty day moving average price is $19.54 and its 200-day moving average price is $19.07.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. The firm had revenue of $117.70 million for the quarter, compared to the consensus estimate of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The company’s revenue was up 39.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. Equities research analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CDNA has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. BTIG Research increased their price target on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings downgraded shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 10,282 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $21.12, for a total transaction of $217,155.84. Following the sale, the chief executive officer directly owned 676,475 shares in the company, valued at $14,287,152. This trade represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 owned by insiders.

CareDx Company 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.