CareDx, Inc. $CDNA Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in CareDx, Inc. by 4.3% during the second quarter, holding approximately 512,549 shares valued at about $10 million.
• CareDx reported a quarterly loss of ($0.16) EPS, falling short of analysts' estimates, while its quarterly revenue decreased 6.1% year-over-year to $90.51 million.
• Analysts have mixed ratings for CareDx, with the stock receiving a consensus rating of "Hold" and a price target averaging $25.50.

Chevy Chase Trust Holdings LLC cut its position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 512,549 shares of the company's stock after selling 22,792 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.92% of CareDx worth $10,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of CareDx by 3.4% in the first quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after buying an additional 640 shares in the last quarter. Sei Investments Co. grew its stake in shares of CareDx by 1.7% in the first quarter. Sei Investments Co. now owns 47,921 shares of the company's stock valued at $851,000 after buying an additional 816 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of CareDx by 3.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock valued at $425,000 after buying an additional 900 shares in the last quarter. MCF Advisors LLC grew its stake in shares of CareDx by 292.9% in the second quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after buying an additional 996 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of CareDx by 7.2% in the first quarter. US Bancorp DE now owns 18,403 shares of the company's stock valued at $327,000 after buying an additional 1,235 shares in the last quarter.

CareDx Stock Performance

Shares of CDNA opened at $14.41 on Monday. The company has a market capitalization of $767.04 million, a P/E ratio of 14.13 and a beta of 2.37. CareDx, Inc. has a one year low of $10.96 and a one year high of $26.37. The stock has a 50-day moving average price of $13.79 and a 200 day moving average price of $15.91.

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 analysts' consensus estimates of $0.12 by ($0.28). The business had revenue of $90.51 million during the quarter, compared to analysts' expectations of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. As a group, equities research analysts forecast that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. William Blair assumed coverage on CareDx in a research note on Tuesday, August 26th. They issued a "market perform" rating for the company. Wells Fargo & Company lowered their target price on CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Wall Street Zen upgraded CareDx from a "sell" rating to a "hold" rating in a research note on Monday. Craig Hallum lowered their target price on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Finally, BTIG Research reissued a "buy" rating and issued a $22.00 price target on shares of CareDx in a report on Tuesday, September 23rd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $25.50.

CareDx 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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