Russell Investments Group Ltd. Increases Stake in CareDx, Inc. $CDNA

Key Points

• Russell Investments Group Ltd. increased its stake in CareDx by 89.9% in Q1, now holding 594,851 shares valued at approximately $10.56 million.
• CareDx reported a quarterly earnings miss, with earnings per share of ($0.16), missing the estimated $0.12, while revenue was down 6.1% year-over-year.
• Wall Street analysts have mixed ratings on CareDx, with a consensus rating of "Hold" and an average target price of $27.67.

Russell Investments Group Ltd. boosted its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 89.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 594,851 shares of the company's stock after purchasing an additional 281,592 shares during the period. Russell Investments Group Ltd. owned about 1.07% of CareDx worth $10,559,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its holdings in CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after acquiring an additional 1,126 shares during the period. Tower Research Capital LLC TRC grew 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 worth $84,000 after purchasing an additional 3,322 shares during the last quarter. State of Wyoming bought a new position in shares of CareDx during the fourth quarter worth about $91,000. PNC Financial Services Group Inc. lifted its holdings in CareDx by 20,200.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock valued at $79,000 after buying an additional 4,444 shares during the period. Finally, Morse Asset Management Inc acquired a new position in CareDx in the first quarter valued at $103,000.

Insider Activity at CareDx

In related news, Director William A. Hagstrom sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the transaction, the director owned 53,979 shares in the company, valued at $941,933.55. This represents a 35.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,961 shares of company stock worth $1,490,102 over the last quarter. Company insiders own 4.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CDNA shares. Stephens reaffirmed an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. Wells Fargo & Company dropped 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. Craig Hallum lowered their target price on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Wall Street Zen cut shares of CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, HC Wainwright reiterated a "neutral" rating and issued a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

CareDx Price Performance

NASDAQ:CDNA traded up $0.46 during mid-day trading on Friday, hitting $12.97. 1,269,063 shares of the company's stock were exchanged, compared to its average volume of 1,323,505. CareDx, Inc. has a one year low of $10.96 and a one year high of $32.97. The business has a fifty day moving average price of $15.58 and a 200 day moving average price of $17.75. The company has a market cap of $690.39 million, a PE ratio of 12.72 and a beta of 2.22.

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

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.