Federated Hermes Inc. Has $2.34 Million Holdings in CareDx, Inc. (NASDAQ:CDNA)

Key Points

• Federated Hermes Inc. increased its stake in CareDx, Inc. by 29.8%, holding 131,861 shares worth approximately $2.34 million as of the last SEC filing.
• Despite some analyst ratings remaining optimistic, CareDx's stock price target has been downgraded by Goldman Sachs from $34 to $26, while maintaining a "buy" rating.
• Insider trading activity has seen significant sales, with directors selling a combined total of over $1.9 million worth of shares in the last three months.

Federated Hermes Inc. boosted its holdings in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 29.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,861 shares of the company's stock after buying an additional 30,284 shares during the quarter. Federated Hermes Inc. owned approximately 0.24% of CareDx worth $2,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Divisadero Street Capital Management LP bought a new position in shares of CareDx in the fourth quarter valued at about $15,239,000. Chevy Chase Trust Holdings LLC acquired a new position in CareDx in the 1st quarter valued at about $9,502,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CareDx by 52.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock worth $26,625,000 after acquiring an additional 428,864 shares during the period. Bamco Inc. NY grew its position in shares of CareDx by 17.6% in the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after purchasing an additional 330,627 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of CareDx by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after purchasing an additional 323,554 shares during the period.

Analyst Ratings Changes

Several research firms have weighed in on CDNA. The Goldman Sachs Group lowered their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price target on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research report on Friday. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Craig Hallum dropped their price target 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, Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.67.

CareDx Trading Down 0.8%

NASDAQ CDNA traded down $0.10 during trading on Friday, hitting $11.97. 1,640,273 shares of the company's stock were exchanged, compared to its average volume of 2,417,368. The stock's 50 day moving average price is $16.95 and its two-hundred day moving average price is $18.50. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $34.84. The company has a market cap of $637.16 million, a PE ratio of 11.74 and a beta of 2.22.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) EPS 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 period in the previous year, the company earned $0.25 EPS. CareDx's revenue for the quarter was down 6.1% on a year-over-year basis. Analysts forecast that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other news, Director Hannah Valantine sold 10,570 shares of CareDx 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 sale, the director directly owned 38,994 shares of the company's stock, valued at approximately $747,125.04. This trade represents a 21.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter Maag sold 10,000 shares of CareDx stock in a transaction that occurred 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 owned 308,846 shares in the company, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,097 shares of company stock valued at $1,955,113 over the last three months. 4.40% of the stock is currently owned by corporate insiders.

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.