Federated Hermes Inc. Raises Holdings in CareDx, Inc (NASDAQ:CDNA)

Federated Hermes Inc. grew its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 182.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,577 shares of the company's stock after buying an additional 65,663 shares during the period. Federated Hermes Inc. owned 0.19% of CareDx worth $2,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after acquiring an additional 323,554 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CareDx by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,234,263 shares of the company's stock valued at $26,432,000 after purchasing an additional 6,539 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of CareDx by 25.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company's stock worth $18,738,000 after purchasing an additional 178,304 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CareDx by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 511,922 shares of the company's stock worth $10,960,000 after purchasing an additional 12,442 shares during the period. Finally, Royce & Associates LP boosted its position in CareDx by 23.1% in the fourth quarter. Royce & Associates LP now owns 484,286 shares of the company's stock valued at $10,369,000 after buying an additional 91,000 shares during the last quarter.

CareDx Trading Down 3.3 %

CDNA traded down $0.60 on Friday, reaching $17.62. The stock had a trading volume of 537,147 shares, compared to its average volume of 851,422. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84. The business's 50-day moving average price is $19.83 and its two-hundred day moving average price is $22.47. The company has a market cap of $976.61 million, a P/E ratio of -6.53 and a beta of 2.18.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $1.46. The firm had revenue of $86.58 million for the quarter, compared to analysts' expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. As a group, analysts predict that CareDx, Inc will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on CDNA. StockNews.com raised shares of CareDx from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. HC Wainwright reduced their target price on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group lowered their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday. Wells Fargo & Company upgraded CareDx from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, Stephens restated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $30.33.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.