Royce & Associates LP Has $5.88 Million Stake in CareDx, Inc. $CDNA

Key Points

• Royce & Associates cut its position in CareDx by 48.1% in Q3 and now holds 404,394 shares worth about $5.88 million (≈0.79% of the company).
• Several other institutions increased exposure—Next Century Growth (+309%), Sumitomo Mitsui Trust (+40.7%), Zweig DiMenna (+153.8%) and Ophir—while SG Capital initiated a new stake of roughly $6.17 million, indicating mixed but significant institutional activity.
• Analysts are mixed: CareDx has a consensus "Hold" rating with an average price target of $27.33; the company recently missed EPS estimates but reported revenue up 25.2% year-over-year.

Royce & Associates LP reduced its position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) by 48.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,394 shares of the company's stock after selling 374,210 shares during the quarter. Royce & Associates LP owned 0.79% of CareDx worth $5,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Next Century Growth Investors LLC raised its holdings in shares of CareDx by 309.4% in the 2nd quarter. Next Century Growth Investors LLC now owns 1,125,454 shares of the company's stock valued at $21,991,000 after purchasing an additional 850,580 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in CareDx by 40.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,740,064 shares of the company's stock worth $25,301,000 after buying an additional 503,136 shares during the last quarter. Zweig DiMenna Associates LLC raised its stake in CareDx by 153.8% in the third quarter. Zweig DiMenna Associates LLC now owns 575,000 shares of the company's stock valued at $8,360,000 after buying an additional 348,400 shares during the period. SG Capital Management LLC bought a new stake in CareDx in the second quarter valued at approximately $6,171,000. Finally, Ophir Asset Management Pty Ltd lifted its position in shares of CareDx by 17.0% in the second quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company's stock valued at $36,989,000 after buying an additional 274,625 shares during the last quarter.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on CareDx from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 25th. Zacks Research raised shares of CareDx from a "strong sell" rating to a "hold" rating in a research report on Tuesday, November 18th. BTIG Research upped their price objective on shares of CareDx from $25.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Finally, Craig Hallum downgraded shares of CareDx from a "buy" rating to a "hold" rating and set a $26.00 target price for the company. in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CareDx currently has a consensus rating of "Hold" and an average price target of $27.33.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total value of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares in the company, valued at approximately $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 29,636 shares of company stock worth $625,949 over the last quarter. 4.40% of the stock is currently owned by company insiders.

CareDx Stock Performance

CDNA opened at $19.06 on Thursday. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $21.49. The company has a market capitalization of $976.25 million, a P/E ratio of -47.65 and a beta of 2.52. The stock has a fifty day moving average of $19.58 and a 200-day moving average of $16.99.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The business had revenue of $108.39 million during the quarter, compared to analyst estimates of $102.76 million. During the same quarter last year, the company posted $0.18 earnings per share. The company's revenue was up 25.2% on a year-over-year basis. On average, equities research analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc NASDAQ: CDNA is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company's core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

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