Family Office Research LLC Sells 70,000 Shares of CareDx, Inc. $CDNA

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 lowered its holdings in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 77.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,930 shares of the company's stock after selling 70,000 shares during the quarter. Family Office Research LLC's holdings in CareDx were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNA. Tower Research Capital LLC TRC increased its position in shares of CareDx by 553.7% during the 4th 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 last quarter. State of Wyoming bought a new stake in CareDx in the 4th quarter valued at $91,000. PNC Financial Services Group Inc. boosted its stake 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 purchasing an additional 4,444 shares during the period. Morse Asset Management Inc bought a new stake in shares of CareDx during the 1st quarter valued at $103,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of CareDx during the 4th quarter valued at $210,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on CDNA shares. William Blair started coverage on CareDx in a report on Tuesday, August 26th. They set a "market perform" rating for the company. Craig Hallum reduced their price target on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Wells Fargo & Company reduced their price target on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen lowered CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Four 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, the stock has an average rating of "Moderate Buy" and an average price target of $27.67.

Insider Transactions at CareDx

In other news, Director Peter Maag sold 10,000 shares of the 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 completion of the sale, the director directly owned 308,846 shares of the company's stock, valued at $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William A. Hagstrom sold 19,391 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $19.90, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,961 shares of company stock valued at $966,602 over the last ninety days. 4.40% of the stock is currently owned by insiders.

CareDx Stock Up 5.5%

NASDAQ:CDNA traded up $0.72 on Friday, hitting $13.82. The stock had a trading volume of 1,775,299 shares, compared to its average volume of 1,462,601. The business's fifty day moving average is $14.42 and its 200 day moving average is $16.92. The company has a market cap of $735.64 million, a PE ratio of 13.55 and a beta of 2.28. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $32.97.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The firm's revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. Equities analysts predict 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.