Trexquant Investment LP Lowers Holdings in CareDx, Inc. $CDNA

Key Points

• Trexquant Investment LP reduced its holdings in CareDx, Inc. by 7.2%, now owning approximately 309,743 shares valued at $5.5 million after selling 24,133 shares.
• CareDx reported a quarterly EPS of ($0.16), missing estimates and experiencing a 6.1% decline in revenue year-over-year, totaling $90.51 million.
• Equity analysts have mixed opinions on CareDx, with ratings ranging from "sell" to "buy" and an average price target of $27.67.

Trexquant Investment LP trimmed its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 309,743 shares of the company's stock after selling 24,133 shares during the quarter. Trexquant Investment LP owned 0.56% of CareDx worth $5,498,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CDNA. Invesco Ltd. raised its position 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 acquiring an additional 1,153,011 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of CareDx in the 4th quarter worth $15,239,000. Chevy Chase Trust Holdings LLC bought a new position in shares of CareDx in the 1st quarter worth $9,502,000. Jacobs Levy Equity Management Inc. raised its position in shares of CareDx by 52.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock worth $26,625,000 after acquiring an additional 428,864 shares in the last quarter. Finally, Bamco Inc. NY raised its position in shares of CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock worth $47,258,000 after acquiring an additional 330,627 shares in the last quarter.

Insider Transactions at CareDx

In other news, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total value of $202,521.20. Following the sale, the director owned 38,994 shares in the company, valued at $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the sale, the director owned 308,846 shares in the company, valued at $5,738,358.68. The trade was 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 worth $966,602 over the last quarter. 4.40% of the stock is currently owned by insiders.

CareDx Price Performance

CareDx stock traded up $0.37 during trading hours on Thursday, hitting $13.10. 1,424,918 shares of the stock traded hands, compared to its average volume of 1,201,004. The firm's 50 day moving average price is $14.65 and its 200-day moving average price is $17.17. The stock has a market capitalization of $697.31 million, a price-to-earnings ratio of 12.84 and a beta of 2.28. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $32.97.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly 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). 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 quarter in the previous year, the firm posted $0.25 EPS. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts forecast that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDNA. William Blair began coverage on CareDx in a research report on Tuesday, August 26th. They issued a "market perform" rating for the company. Wall Street Zen lowered CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Craig Hallum reduced their target price on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Wells Fargo & Company reduced their target price on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.67.

CareDx 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.