Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in CareDx, Inc. (NASDAQ:CDNA)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 21,245 shares of CareDx, Inc., valued at approximately $377,000, marking a new investment in the company.
• Insider transactions show that Directors Christine Cournoyer and Peter Maag sold substantial shares recently, reducing their holdings significantly.
• Research firms have issued revised ratings and price targets for CareDx, with consensus rating being "Hold" and an average target price of $29.33.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 21,245 shares of the company's stock, valued at approximately $377,000.

Several other hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new position in CareDx in the first quarter valued at approximately $375,000. KLP Kapitalforvaltning AS bought a new stake in CareDx in the 4th quarter worth about $208,000. Nuveen Asset Management LLC grew its position in shares of CareDx by 15.5% during the 4th quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company's stock valued at $9,594,000 after acquiring an additional 60,050 shares during the period. Millennium Management LLC lifted its stake in shares of CareDx by 37.8% during the 4th quarter. Millennium Management LLC now owns 621,307 shares of the company's stock valued at $13,302,000 after buying an additional 170,568 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after purchasing an additional 323,554 shares in the last quarter.

CareDx Stock Down 10.0%

Shares of CareDx stock traded down $1.31 during trading hours on Thursday, reaching $11.79. 1,938,796 shares of the company's stock were exchanged, compared to its average volume of 1,153,371. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $34.84. The business has a fifty day moving average of $17.13 and a two-hundred day moving average of $18.63. The company has a market capitalization of $656.41 million, a P/E ratio of 10.27 and a beta of 2.22.

CareDx (NASDAQ:CDNA - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $90.72 million. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The company's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. As a group, research analysts predict that CareDx, Inc. will post -0.9 EPS for the current year.

Insider Activity

In other CareDx news, Director Christine Cournoyer sold 29,136 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the sale, the director directly owned 37,045 shares in the company, valued at approximately $591,238.20. The trade was a 44.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William A. Hagstrom sold 19,391 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $19.90, for a total transaction of $385,880.90. Following the completion of the transaction, the director owned 53,979 shares in the company, valued at approximately $1,074,182.10. This trade represents a 26.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,097 shares of company stock worth $1,955,113 in the last ninety days. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of analyst reports. Wall Street Zen cut shares of CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Stephens reiterated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. Craig Hallum lowered their target price on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a report on Friday, July 18th. The Goldman Sachs Group decreased their price objective on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CareDx currently has an average rating of "Hold" and a consensus target price of $29.33.

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.