Ieq Capital LLC Sells 22,080 Shares of CareDx, Inc. $CDNA

Key Points

• Ieq Capital LLC significantly reduced its stake in CareDx, Inc. by 48.7% during Q1, leaving it with holdings worth $413,000.
• CareDx reported a net margin of 17.97% and earnings per share of ($0.16) for the last quarter, missing estimates, and showing a 6.1% decline in revenue year-over-year.
• Despite mixed analyst ratings, CareDx has an average target price of $27.67, with several analysts recently adjusting their price objectives downward.

Ieq Capital LLC lowered its holdings in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 48.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,245 shares of the company's stock after selling 22,080 shares during the quarter. Ieq Capital LLC's holdings in CareDx were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of CareDx by 20,200.0% in 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 last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 last quarter. State of Wyoming purchased a new position in shares of CareDx in the fourth quarter worth $91,000. Morse Asset Management Inc purchased a new position in shares of CareDx in the first quarter worth $103,000. Finally, Balance Wealth LLC purchased a new position in shares of CareDx in the first quarter worth $189,000.

Insider Transactions at CareDx

In other news, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $202,521.20. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,570 shares of company stock valued at $580,721. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

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

CareDx Price Performance

Shares of NASDAQ CDNA traded down $0.12 during mid-day trading on Wednesday, reaching $13.33. The company's stock had a trading volume of 1,119,009 shares, compared to its average volume of 1,462,240. The firm has a market capitalization of $709.56 million, a PE ratio of 13.07 and a beta of 2.28. The stock has a fifty day moving average of $14.06 and a two-hundred day moving average of $16.81. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.28). The business 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 business's revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Analysts anticipate that CareDx, Inc. will post -0.9 EPS 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.