CareDx, Inc. $CDNA Shares Sold by Family Office Research LLC

Key Points

• Family Office Research LLC has reduced its stake in CareDx, Inc. by 77.8%, now holding only 19,930 shares worth $354,000 after selling 70,000 shares this quarter.
• Several large investors, including MetLife and Tower Research, have increased their positions in CareDx, indicating mixed sentiment among major stakeholders.
• CareDx reported disappointing quarterly earnings, missing expectations with a loss of ($0.16) EPS, leading to analysts adjusting target prices downwards, with a consensus target price now at $27.67.

Family Office Research LLC decreased its position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 77.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,930 shares of the company's stock after selling 70,000 shares during the period. Family Office Research LLC's holdings in CareDx were worth $354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CDNA. PNC Financial Services Group Inc. raised its stake in CareDx by 20,200.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after purchasing an additional 4,444 shares during the period. Tower Research Capital LLC TRC raised its stake in CareDx by 553.7% during 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 purchased a new position in CareDx during the fourth quarter worth approximately $91,000. Morse Asset Management Inc purchased a new position in CareDx during the first quarter worth approximately $103,000. Finally, Balance Wealth LLC purchased a new position in CareDx during the first quarter worth approximately $189,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Craig Hallum cut their price target on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Wall Street Zen downgraded shares of CareDx from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. William Blair started coverage on shares of CareDx in a research note on Tuesday, August 26th. They set a "market perform" rating on the stock. Finally, Wells Fargo & Company dropped their price objective 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, August 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.67.

Insider Activity at CareDx

In related news, Director William A. Hagstrom sold 19,391 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $19.90, for a total transaction of $385,880.90. Following the completion of the sale, the director directly owned 53,979 shares of the company's stock, valued at approximately $1,074,182.10. This trade represents a 26.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Maag sold 10,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $18.58, for a total transaction of $185,800.00. Following the sale, the director directly owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,961 shares of company stock valued at $966,602. Corporate insiders own 4.40% of the company's stock.

CareDx Stock Up 5.5%

Shares of CareDx stock traded up $0.72 during trading hours on Friday, hitting $13.82. The company's stock had a trading volume of 1,775,299 shares, compared to its average volume of 1,455,857. CareDx, Inc. has a 1-year low of $10.96 and a 1-year high of $32.97. The business has a fifty day moving average of $14.42 and a 200 day moving average of $17.02. The company has a market capitalization of $735.60 million, a PE ratio of 13.55 and a beta of 2.28.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a return on equity of 18.03% and a net margin of 17.97%.The business had revenue of $90.51 million during the quarter, compared to analyst estimates of $90.72 million. During the same period in the previous year, the company earned $0.25 EPS. CareDx's revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal 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.