Nuveen LLC Makes New Investment in CareDx, Inc. $CDNA

Key Points

• Nuveen LLC acquired a new position in CareDx, purchasing 196,202 shares valued at approximately $3.48 million, representing 0.35% of the company.
• Insider trading activity included Director William A. Hagstrom selling 19,391 shares for about $385,880, reflecting a 26.43% decrease in his ownership of the stock.
• CareDx reported a revenue of $90.51 million for its last quarter, missing analyst estimates, and group forecasts predict a projected earning per share of -0.9 for the current fiscal year.

Nuveen LLC acquired a new position in CareDx, Inc. (NASDAQ:CDNA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 196,202 shares of the company's stock, valued at approximately $3,483,000. Nuveen LLC owned 0.35% of CareDx as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CDNA. PNC Financial Services Group Inc. raised its position in shares of CareDx by 20,200.0% during the 1st 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 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 acquired a new position in shares of CareDx during the 4th quarter worth about $91,000. Morse Asset Management Inc acquired a new position in shares of CareDx during the 1st quarter worth about $103,000. Finally, Balance Wealth LLC acquired a new position in shares of CareDx during the 1st quarter worth about $189,000.

Insider Buying and Selling at CareDx

In other 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 value of $385,880.90. Following the sale, the director directly owned 53,979 shares in the company, valued at approximately $1,074,182.10. This trade represents a 26.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hannah Valantine sold 10,570 shares of CareDx stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total transaction of $202,521.20. Following the sale, the director owned 38,994 shares in the company, valued at $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,961 shares of company stock valued at $966,602 in the last 90 days. Company insiders own 4.40% of the company's stock.

CareDx Stock Up 1.4%

CDNA stock traded up $0.19 during midday trading on Tuesday, hitting $13.85. The company's stock had a trading volume of 2,407,641 shares, compared to its average volume of 1,435,585. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $32.97. The firm has a market capitalization of $737.24 million, a P/E ratio of 13.58 and a beta of 2.28. The firm has a 50-day simple moving average of $14.78 and a 200-day simple moving average of $17.20.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CDNA shares. William Blair assumed coverage on shares of CareDx in a research report on Tuesday, August 26th. They set a "market perform" rating for the company. Wall Street Zen downgraded shares of CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Craig Hallum cut their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a report on Friday, July 18th. Stephens reiterated an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. Finally, Wells Fargo & Company cut their price objective on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock 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.