Northern Trust Corp Raises Stock Position in CareDx, Inc (NASDAQ:CDNA)

Northern Trust Corp lifted its stake in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 485,789 shares of the company's stock after acquiring an additional 33,788 shares during the period. Northern Trust Corp owned 0.91% of CareDx worth $10,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CDNA. Thompson Davis & CO. Inc. raised its holdings in CareDx by 6.3% during the fourth quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock worth $344,000 after buying an additional 950 shares during the last quarter. Hsbc Holdings PLC raised its holdings in CareDx by 6.9% during the fourth quarter. Hsbc Holdings PLC now owns 17,131 shares of the company's stock worth $365,000 after buying an additional 1,109 shares during the last quarter. Legal & General Group Plc raised its holdings in CareDx by 1.3% during the fourth quarter. Legal & General Group Plc now owns 89,751 shares of the company's stock worth $1,922,000 after buying an additional 1,118 shares during the last quarter. Sterling Capital Management LLC raised its holdings in CareDx by 771.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after buying an additional 1,126 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in CareDx by 6.5% during the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock worth $406,000 after buying an additional 1,151 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on CDNA. Stephens restated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. HC Wainwright restated a "neutral" rating and set a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CareDx presently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Trading Down 0.9%

Shares of CDNA traded down $0.16 during trading hours on Friday, reaching $16.95. 982,264 shares of the stock traded hands, compared to its average volume of 893,720. The stock has a fifty day simple moving average of $17.48 and a 200 day simple moving average of $20.75. CareDx, Inc has a 52 week low of $12.90 and a 52 week high of $34.84. The company has a market cap of $943.79 million, a price-to-earnings ratio of -6.28 and a beta of 2.27.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm's quarterly revenue was up 17.6% compared to the same quarter last year. Analysts predict that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the sale, the director now owns 37,045 shares in the company, valued at approximately $591,238.20. This trade represents a 44.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter Maag sold 13,281 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the sale, the director now owns 316,743 shares of the company's stock, valued at $5,457,481.89. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,382 shares of company stock worth $934,509. Insiders own 4.90% of the company's stock.

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.