Rafferty Asset Management LLC Has $1.76 Million Stock Position in CareDx, Inc. $CDNA

Key Points

• Rafferty Asset Management LLC reduced its stake in CareDx, Inc. by 17.1% after selling 20,469 shares, leaving it with 99,329 shares valued at approximately $1.76 million.
• CareDx analysts have mixed ratings, with a consensus price target of $27.67 and ratings ranging from "buy" to "hold", indicating varying confidence in the stock's future performance.
• Despite a 4.2% increase in stock value recently, CareDx reported a quarterly loss, missing earnings expectations with a net margin of 17.97% and a 6.1% revenue decline compared to the previous year.

Rafferty Asset Management LLC lowered its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 17.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,329 shares of the company's stock after selling 20,469 shares during the period. Rafferty Asset Management LLC owned 0.18% of CareDx worth $1,763,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock valued at $79,000 after purchasing an additional 4,444 shares during the last quarter. Tower Research Capital LLC TRC increased 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 valued at $84,000 after buying an additional 3,322 shares in the last quarter. State of Wyoming bought a new position in shares of CareDx in the fourth quarter valued at about $91,000. Morse Asset Management Inc bought a new position in shares of CareDx in the first quarter valued at about $103,000. Finally, Balance Wealth LLC acquired a new position in CareDx during the 1st quarter worth about $189,000.

CareDx Stock Up 1.6%

Shares of CareDx stock traded up $0.20 during trading on Thursday, reaching $12.93. 803,329 shares of the company were exchanged, compared to its average volume of 1,196,693. The business has a 50-day moving average price of $14.65 and a 200-day moving average price of $17.17. The firm has a market capitalization of $688.26 million, a price-to-earnings ratio of 12.68 and a beta of 2.28. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $32.97.

CareDx (NASDAQ:CDNA - Get Free Report) last released its earnings results 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). The company had revenue of $90.51 million during the quarter, compared to analyst estimates of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, equities research analysts forecast that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

CDNA has been the subject of several research reports. Craig Hallum lowered their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Wells Fargo & Company decreased their price target on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. Wall Street Zen lowered shares of CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, William Blair assumed coverage on CareDx in a report on Tuesday, August 26th. They set a "market perform" rating on the stock. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.67.

Insider Buying and Selling

In other news, Director William A. Hagstrom sold 19,391 shares of CareDx stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $19.90, for a total transaction of $385,880.90. Following the transaction, the director directly owned 53,979 shares of the company's stock, valued at $1,074,182.10. This trade represents a 26.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $18.58, for a total transaction of $185,800.00. Following the completion of the sale, the director owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,961 shares of company stock valued at $966,602 in the last 90 days. 4.40% of the stock is owned by insiders.

About CareDx

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.