40,564 Shares in CareDx, Inc. $CDNA Acquired by Virtus Advisers LLC

Key Points

• Virtus Advisers LLC acquired 40,564 shares of CareDx, Inc. valued at approximately $720,000, marking the stock as the 23rd largest holding in their portfolio.
• CareDx reported a quarterly EPS of ($0.16), missing the analysts' expectations, with a revenue of $90.51 million; this reflects a 6.1% decrease compared to the same quarter last year.
• Multiple institutional investors have increased their stakes in CareDx, with PNC Financial Services Group Inc. showing a significant growth of 20,200.0% in their position during the first quarter.

Virtus Advisers LLC bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,564 shares of the company's stock, valued at approximately $720,000. CareDx makes up approximately 0.9% of Virtus Advisers LLC's portfolio, making the stock its 23rd largest position. Virtus Advisers LLC owned about 0.07% of CareDx as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after acquiring an additional 3,322 shares in the last quarter. State of Wyoming bought a new stake in CareDx during the fourth quarter worth about $91,000. PNC Financial Services Group Inc. raised its holdings in CareDx by 20,200.0% during the first quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after acquiring an additional 4,444 shares in the last quarter. Morse Asset Management Inc bought a new stake in CareDx during the first quarter worth about $103,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in CareDx during the fourth quarter worth about $210,000.

Wall Street Analysts Forecast Growth

CDNA has been the topic of a number of recent analyst reports. Craig Hallum lowered their price target on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Stephens reissued an "overweight" rating and set a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Wells Fargo & Company lowered their price target 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. Finally, William Blair initiated coverage on CareDx in a research report on Tuesday. They set a "market perform" rating on the stock. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

Insider Activity

In related news, Director Peter Maag sold 10,000 shares of the stock in a transaction that occurred 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 sale, the director owned 308,846 shares of the company's stock, valued at $5,738,358.68. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William A. Hagstrom sold 19,391 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $19.90, for a total value of $385,880.90. Following the sale, the director directly owned 53,979 shares in the company, valued at $1,074,182.10. This represents a 26.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,961 shares of company stock valued at $966,602. 4.40% of the stock is owned by insiders.

CareDx Stock Up 4.2%

Shares of CareDx stock traded up $0.55 on Friday, hitting $13.66. The stock had a trading volume of 2,032,168 shares, compared to its average volume of 1,445,627. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $32.97. The business's 50 day moving average is $14.98 and its two-hundred day moving average is $17.35. The stock has a market cap of $727.12 million, a price-to-earnings ratio of 13.39 and a beta of 2.22.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.16) EPS 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 during the quarter, compared to analyst estimates of $90.72 million. During the same period in the previous year, the company posted $0.25 EPS. CareDx's revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

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.