Driehaus Capital Management LLC Has $6.19 Million Stock Position in CareDx, Inc. $CDNA

Key Points

• Driehaus Capital Management LLC reduced its stake in CareDx, Inc. by 49.3%, selling 339,623 shares during the first quarter, leaving the firm with about 0.63% of the company's stock valued at $6,191,000.
• Analysts have adjusted their ratings and price targets for CareDx, with Craig Hallum cutting its target from $40.00 to $26.00 while others rated the stock with a consensus target price of $27.67.
• CareDx reported a loss of ($0.16) EPS for the last quarter, missing the consensus estimate, while also noting a decline in revenue by 6.1% compared to the previous year.

Driehaus Capital Management LLC reduced its holdings in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 49.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,772 shares of the company's stock after selling 339,623 shares during the quarter. Driehaus Capital Management LLC owned 0.63% of CareDx worth $6,191,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CDNA. PNC Financial Services Group Inc. increased its position in CareDx by 20,200.0% in 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. Tower Research Capital LLC TRC increased its position in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after acquiring an additional 3,322 shares during the period. State of Wyoming acquired a new stake in CareDx in the 4th quarter valued at approximately $91,000. Morse Asset Management Inc acquired a new stake in CareDx in the 1st quarter valued at approximately $103,000. Finally, Balance Wealth LLC acquired a new stake in CareDx in the 1st quarter valued at approximately $189,000.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded shares of CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Craig Hallum reduced their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Finally, William Blair assumed coverage on shares of CareDx in a report on Tuesday, August 26th. They issued a "market perform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, CareDx has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

Insider Activity at CareDx

In related news, Director William A. Hagstrom sold 19,391 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $19.90, for a total transaction of $385,880.90. Following the transaction, the director directly owned 53,979 shares of the company's stock, valued at approximately $1,074,182.10. The trade was a 26.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $202,521.20. Following the transaction, the director directly owned 38,994 shares in the company, valued at $747,125.04. The trade was a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,961 shares of company stock valued at $966,602. Company insiders own 4.40% of the company's stock.

CareDx Stock Performance

NASDAQ:CDNA traded down $1.12 during trading hours on Wednesday, hitting $12.73. 2,342,076 shares of the company's stock traded hands, compared to its average volume of 1,199,618. The firm has a market cap of $677.58 million, a P/E ratio of 12.48 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's fifty day moving average price is $14.78 and its two-hundred day moving average price is $17.20.

CareDx (NASDAQ:CDNA - Get Free Report) last posted 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 business had revenue of $90.51 million for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities research analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current year.

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.