CareDx, Inc. $CDNA Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its holdings in CareDx, Inc. by 6.1%, now owning about 0.65% of the company, worth approximately $6.37 million.
• Insider transactions show significant share sales, including Director Hannah Valantine selling 10,570 shares and Director Peter Maag selling 10,000 shares, reflecting a reduction in their stakes.
• Wall Street analysts have varied ratings for CareDx, with Price targets ranging from $14.00 to $26.00, although the stock recently had a disappointing earnings report.

Acadian Asset Management LLC raised its holdings in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 359,303 shares of the company's stock after acquiring an additional 20,806 shares during the period. Acadian Asset Management LLC owned approximately 0.65% of CareDx worth $6,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in CareDx by 20,200.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock valued at $79,000 after acquiring an additional 4,444 shares during the period. State of Wyoming acquired a new stake in CareDx during the 4th quarter valued at approximately $91,000. Morse Asset Management Inc acquired a new stake in CareDx during the 1st quarter valued at approximately $103,000. Balance Wealth LLC acquired a new stake in CareDx during the 1st quarter valued at approximately $189,000. Finally, Moors & Cabot Inc. acquired a new stake in CareDx during the 1st quarter valued at approximately $201,000.

Insiders Place Their Bets

In other news, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total transaction of $202,521.20. Following the completion of the sale, the director owned 38,994 shares of the company's stock, valued at $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $18.58, for a total transaction of $185,800.00. Following the sale, the director directly owned 308,846 shares of the company's stock, valued at $5,738,358.68. The trade was a 3.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,570 shares of company stock valued at $580,721 in the last ninety days. Insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

CDNA has been the subject of several research reports. Craig Hallum decreased their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, July 18th. BTIG Research reiterated a "buy" rating and issued a $22.00 target price on shares of CareDx in a research note on Friday. Wells Fargo & Company decreased their target price on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. William Blair began coverage on shares of CareDx in a research note on Tuesday, August 26th. They issued a "market perform" rating for the company. Finally, Wall Street Zen cut shares of CareDx from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $13.53 on Friday. The firm has a market cap of $720.20 million, a PE ratio of 13.26 and a beta of 2.28. The firm has a fifty day moving average of $13.83 and a 200 day moving average of $16.67. CareDx, Inc. has a one year low of $10.96 and a one year high of $32.97.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). The company had revenue of $90.51 million during the quarter, compared to analysts' expectations of $90.72 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.CareDx's revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. On average, equities analysts predict that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

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.

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