345,308 Shares in CareDx, Inc. $CDNA Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc established a new Q4 position in CareDx, buying 345,308 shares worth about $6.51 million, equal to roughly 0.67% of the company.
• CEO John Walter Hanna Jr. sold 19,280 shares on Jan. 22 for about $407,965, trimming his stake by 3.13% to 597,405 shares; insiders have sold 29,636 shares in the last three months and collectively own 4.40% of the stock.
• CareDx missed on EPS ($0.12 vs. $0.24 expected) but beat revenue at $108.39M (+25.2% YoY); the stock trades near $17.92 with a market cap of about $918M and carries a consensus analyst rating of Hold with an average target of $27.33.

Aberdeen Group plc acquired a new position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 345,308 shares of the company's stock, valued at approximately $6,506,000. Aberdeen Group plc owned approximately 0.67% of CareDx at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDNA. FNY Investment Advisers LLC bought a new position in shares of CareDx in the third quarter worth approximately $31,000. State of Alaska Department of Revenue bought a new position in shares of CareDx in the third quarter worth approximately $43,000. Quantbot Technologies LP bought a new position in shares of CareDx in the third quarter worth approximately $89,000. Tower Research Capital LLC TRC lifted its stake 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 worth $149,000 after buying an additional 4,160 shares in the last quarter. Finally, GatePass Capital LLC bought a new position in shares of CareDx in the second quarter worth approximately $195,000.

Insider Buying and Selling

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the company's stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares of the company's stock, valued at approximately $12,641,089.80. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 29,636 shares of company stock worth $625,949 over the last three months. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Craig Hallum downgraded shares of CareDx from a "buy" rating to a "hold" rating and set a $26.00 target price on the stock. in a research note on Tuesday, January 6th. Weiss Ratings downgraded shares of CareDx from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, February 27th. BTIG Research boosted their price objective on shares of CareDx from $25.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Wells Fargo & Company boosted their price objective on shares of CareDx from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, February 25th. Finally, Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.33.

CareDx Stock Up 1.4%

CDNA opened at $17.92 on Thursday. The firm has a 50 day moving average price of $18.50 and a 200-day moving average price of $17.73. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $21.49. The stock has a market capitalization of $917.86 million, a price-to-earnings ratio of -44.80 and a beta of 2.54.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The company had revenue of $108.39 million for the quarter, compared to analysts' expectations of $102.76 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm's revenue for the quarter was up 25.2% on a year-over-year basis. As a group, analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current year.

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.

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