Strs Ohio Takes Position in CareDx, Inc. $CDNA

Key Points

• Strs Ohio has purchased 26,000 shares of CareDx, Inc. valued at approximately $462,000, marking a significant move for the company in the first quarter.
• Wall Street analysts have mixed ratings on CareDx, with a consensus rating of "Moderate Buy" and an average target price of $25.50.
• CareDx's stock opened at $14.99, with shares previously experiencing a 1-year high of $32.97 and a low of $10.96, indicating considerable volatility in its market performance.

Strs Ohio bought a new stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,000 shares of the company's stock, valued at approximately $462,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in shares of CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company's stock worth $47,355,000 after purchasing an additional 1,153,011 shares in the last quarter. Chevy Chase Trust Holdings LLC purchased a new stake in shares of CareDx in the first quarter worth about $9,502,000. Russell Investments Group Ltd. increased its stake in CareDx by 89.9% in the 1st quarter. Russell Investments Group Ltd. now owns 594,851 shares of the company's stock worth $10,559,000 after acquiring an additional 281,592 shares during the last quarter. Nuveen LLC purchased a new stake in CareDx during the first quarter valued at approximately $3,483,000. Finally, Goldman Sachs Group Inc. raised its position in CareDx by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company's stock valued at $19,703,000 after purchasing an additional 170,504 shares during the period.

Wall Street Analysts Forecast Growth

CDNA has been the topic of several research reports. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. William Blair initiated coverage on CareDx in a research note on Tuesday, August 26th. They issued a "market perform" rating for the company. BTIG Research restated a "buy" rating and issued a $22.00 price objective on shares of CareDx in a research note on Friday, September 12th. Craig Hallum dropped their target price on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Finally, Wells Fargo & Company dropped their target price on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, CareDx presently has a consensus rating of "Moderate Buy" and an average target price of $25.50.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $14.99 on Tuesday. The stock's 50-day moving average is $13.20 and its two-hundred day moving average is $16.40. CareDx, Inc. has a 1-year low of $10.96 and a 1-year high of $32.97. The company has a market cap of $797.92 million, a price-to-earnings ratio of 14.70 and a beta of 2.28.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.28). The business had revenue of $90.51 million during the quarter, compared to analysts' expectations of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The company's revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Equities research analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at CareDx

In related news, Director Peter Maag sold 10,000 shares of CareDx stock in a transaction on Monday, July 7th. The stock was sold at an average price of $18.58, for a total transaction of $185,800.00. Following the completion of the transaction, the director directly owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

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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