AQR Capital Management LLC Trims Position in CareDx, Inc. $CDNA

Key Points

• AQR Capital Management LLC has reduced its stake in CareDx, Inc. by 16.0%, selling 87,384 shares in the first quarter, retaining approximately 0.83% of the company valued at $8.16 million.
• CareDx has recently seen mixed ratings from analysts, with a price target reduction from $40.00 to $26.00 by Craig Hallum and a downgrade from "hold" to "sell" by Wall Street Zen.
• In its latest earnings report, CareDx missed consensus expectations with an EPS of ($0.16) and reported a revenue decline of 6.1% year-over-year.

AQR Capital Management LLC reduced its stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 16.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,886 shares of the company's stock after selling 87,384 shares during the quarter. AQR Capital Management LLC owned about 0.83% of CareDx worth $8,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after buying an additional 4,444 shares during the last quarter. State of Wyoming purchased a new position in CareDx in the fourth quarter worth $91,000. Morse Asset Management Inc bought a new position in CareDx in the first quarter valued at $103,000. Balance Wealth LLC purchased a new stake in CareDx during the first quarter valued at about $189,000. Finally, Moors & Cabot Inc. bought a new stake in CareDx during the first quarter worth about $201,000.

CareDx Trading Up 0.8%

CDNA stock traded up $0.12 during midday trading on Wednesday, hitting $14.30. The company had a trading volume of 1,630,231 shares, compared to its average volume of 1,428,999. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $32.97. The stock's 50 day moving average price is $13.52 and its 200 day moving average price is $16.55. The stock has a market cap of $761.19 million, a price-to-earnings ratio of 14.02 and a beta of 2.28.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Craig Hallum cut their price objective on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a report on Friday, July 18th. William Blair assumed coverage on CareDx in a research report on Tuesday, August 26th. They issued a "market perform" rating for the company. Wells Fargo & Company dropped their target price on CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. BTIG Research restated a "buy" rating and issued a $22.00 target price on shares of CareDx in a research report on Friday, September 12th. Finally, Wall Street Zen lowered shares of CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 10,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the sale, the director owned 308,846 shares in the company, valued at approximately $5,738,358.68. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

About CareDx

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.