Jacobs Levy Equity Management Inc. Has $20.24 Million Stake in CareDx, Inc. $CDNA

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in CareDx by 8.3%, selling 103,560 shares and bringing its ownership to 1,140,020 shares valued at approximately $20.24 million.
• CareDx’s latest earnings report revealed a loss of ($0.16) per share, missing analysts' expectations, with revenues of $90.51 million, down 6.1% year-over-year.
• Analysts have mixed opinions on CareDx; while some downgraded the stock to "sell," others maintain a "buy" rating, reflecting an average consensus price target of $27.67.

Jacobs Levy Equity Management Inc. reduced its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 8.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,140,020 shares of the company's stock after selling 103,560 shares during the period. Jacobs Levy Equity Management Inc. owned 2.05% of CareDx worth $20,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after purchasing an additional 3,322 shares during the period. State of Wyoming acquired a new stake in CareDx during the 4th quarter worth $91,000. PNC Financial Services Group Inc. grew its holdings 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 worth $79,000 after acquiring an additional 4,444 shares during the period. Morse Asset Management Inc acquired a new stake in shares of CareDx during the first quarter worth $103,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of CareDx during the fourth quarter worth $210,000.

Insider Activity

In other news, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total transaction of $202,521.20. Following the completion of the transaction, the director directly 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 at this hyperlink. Also, Director Peter Maag sold 10,000 shares of the company'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 transaction, the director directly owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. This trade represents 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 over the last ninety days. 4.40% of the stock is owned by insiders.

CareDx Price Performance

Shares of CareDx stock traded up $0.09 on Friday, hitting $13.62. The company had a trading volume of 383,664 shares, compared to its average volume of 1,199,427. The firm has a market capitalization of $724.99 million, a P/E ratio of 13.38 and a beta of 2.28. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $32.97. The stock has a 50-day moving average of $13.95 and a 200-day moving average of $16.75.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $90.51 million during the quarter, compared to analyst estimates of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. Equities analysts predict that CareDx, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

CDNA has been the subject of a number of analyst reports. William Blair assumed coverage on CareDx in a research note on Tuesday, August 26th. They set a "market perform" rating for the company. Wall Street Zen lowered CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. BTIG Research restated a "buy" rating and set a $22.00 price objective on shares of CareDx in a report on Friday. 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 report on Friday, July 18th. Finally, Wells Fargo & Company decreased their price target on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, CareDx currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

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.