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 first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,245 shares of the company's stock after selling 22,080 shares during the period. Ieq Capital LLC's holdings in CareDx were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in CareDx by 76.1% in the first quarter. Invesco Ltd. now owns 2,667,861 shares of the company's stock valued at $47,355,000 after acquiring an additional 1,153,011 shares during the last quarter. Fred Alger Management LLC lifted its stake in CareDx by 7.3% in the fourth quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock valued at $34,556,000 after acquiring an additional 110,471 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in CareDx by 52.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock valued at $26,625,000 after acquiring an additional 428,864 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in CareDx by 14.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,003,580 shares of the company's stock valued at $17,814,000 after acquiring an additional 128,383 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in CareDx by 37.8% in the fourth quarter. Millennium Management LLC now owns 621,307 shares of the company's stock valued at $13,302,000 after acquiring an additional 170,568 shares during the last quarter.

CareDx Price Performance

CareDx stock traded up $0.72 during midday trading 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 company has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $16.96. The company has a market cap of $735.64 million, a price-to-earnings ratio of 13.55 and a beta of 2.28.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data 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). 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 quarter last year, the firm earned $0.25 EPS. CareDx's revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that CareDx, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, Director Hannah Valantine sold 10,570 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $747,125.04. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William A. Hagstrom sold 19,391 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 53,979 shares in the company, valued at approximately $1,074,182.10. This represents a 26.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,961 shares of company stock valued at $966,602 in the last ninety days. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.