QRG Capital Management Inc. Acquires Shares of 21,801 CareDx, Inc. $CDNA

Key Points

• QRG Capital Management has acquired 21,801 shares of CareDx, Inc. for approximately $426,000, indicating growing interest from institutional investors in the stock.
• Analysts have varied opinions on CDNA stock, with target prices ranging from $14.00 to $40.00, and a general consensus rating of "Hold" and average price target of $25.50.
• CareDx reported a net margin of 17.97% and a revenue of $90.51 million, which fell short of analyst expectations, revealing a 6.1% decrease compared to the same quarter last year.

QRG Capital Management Inc. acquired a new stake in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 21,801 shares of the company's stock, valued at approximately $426,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in CareDx by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock valued at $348,000 after purchasing an additional 640 shares during the period. Sei Investments Co. increased its position in CareDx by 1.7% during the 1st quarter. Sei Investments Co. now owns 47,921 shares of the company's stock valued at $851,000 after purchasing an additional 816 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in CareDx by 3.9% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock valued at $425,000 after purchasing an additional 900 shares during the period. MCF Advisors LLC increased its position in CareDx by 292.9% during the 2nd quarter. MCF Advisors LLC now owns 1,336 shares of the company's stock valued at $26,000 after purchasing an additional 996 shares during the period. Finally, US Bancorp DE increased its position in CareDx by 7.2% during the 1st quarter. US Bancorp DE now owns 18,403 shares of the company's stock valued at $327,000 after purchasing an additional 1,235 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CDNA shares. Wells Fargo & Company reduced their target price on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Craig Hallum reduced their target price on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. William Blair started coverage on shares of CareDx in a research report on Tuesday, August 26th. They issued a "market perform" rating on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CareDx in a research report on Wednesday. Finally, BTIG Research reaffirmed a "buy" rating and issued a $22.00 target price on shares of CareDx in a research report on Tuesday, September 23rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $25.50.

CareDx Stock Performance

Shares of CDNA stock opened at $14.39 on Friday. CareDx, Inc. has a one year low of $10.96 and a one year high of $31.52. The company's 50-day moving average is $13.58 and its 200 day moving average is $16.05. The company has a market capitalization of $765.98 million, a price-to-earnings ratio of 14.11 and a beta of 2.37.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $90.51 million for the quarter, compared to analysts' expectations of $90.72 million. During the same period last year, the company posted $0.25 earnings per share. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, research analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

CareDx Company 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.

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