Russell Investments Group Ltd. reduced its stake in CareDx Inc (NASDAQ:CDNA) by 29.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 182,705 shares of the company’s stock after selling 77,873 shares during the period. Russell Investments Group Ltd. owned 0.43% of CareDx worth $6,575,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its position in shares of CareDx by 6.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,575 shares of the company’s stock worth $396,000 after acquiring an additional 810 shares in the last quarter. Aperio Group LLC bought a new stake in shares of CareDx during the second quarter worth about $31,000. Rhumbline Advisers increased its position in shares of CareDx by 2.2% during the first quarter. Rhumbline Advisers now owns 46,344 shares of the company’s stock worth $1,461,000 after acquiring an additional 987 shares in the last quarter. Moody Aldrich Partners LLC increased its position in shares of CareDx by 2.8% during the second quarter. Moody Aldrich Partners LLC now owns 52,732 shares of the company’s stock worth $1,898,000 after acquiring an additional 1,415 shares in the last quarter. Finally, First Quadrant L P CA bought a new stake in shares of CareDx during the second quarter worth about $63,000. 92.82% of the stock is owned by hedge funds and other institutional investors.
CareDx stock traded up $1.28 during midday trading on Thursday, hitting $21.72. 22,849 shares of the stock were exchanged, compared to its average volume of 872,618. CareDx Inc has a 52-week low of $19.11 and a 52-week high of $41.27. The stock has a market capitalization of $849.38 million, a price-to-earnings ratio of -16.51 and a beta of 1.04. The business’s 50-day moving average price is $26.01 and its 200-day moving average price is $31.27.
CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The firm had revenue of $31.45 million for the quarter, compared to analysts’ expectations of $27.96 million. CareDx had a negative return on equity of 47.53% and a negative net margin of 38.29%. As a group, analysts predict that CareDx Inc will post -0.7 EPS for the current year.
CDNA has been the topic of several analyst reports. HC Wainwright set a $43.00 price target on shares of CareDx and gave the stock a “buy” rating in a report on Friday, August 23rd. TheStreet cut shares of CareDx from a “c” rating to a “d” rating in a report on Thursday, May 23rd. Piper Jaffray Companies set a $63.00 price target on shares of CareDx and gave the stock a “buy” rating in a report on Thursday, August 22nd. Craig Hallum set a $48.00 price target on shares of CareDx and gave the stock a “positive” rating in a report on Thursday, July 11th. Finally, BidaskClub cut shares of CareDx from a “sell” rating to a “strong sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.00.
In related news, CEO Peter Maag sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.84, for a total transaction of $1,442,000.00. Following the sale, the chief executive officer now directly owns 379,049 shares in the company, valued at approximately $10,931,773.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Yee sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $37.54, for a total transaction of $750,800.00. Following the sale, the insider now directly owns 62,170 shares in the company, valued at approximately $2,333,861.80. The disclosure for this sale can be found here. Insiders have sold a total of 125,084 shares of company stock worth $4,288,055 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.
CareDx Company Profile
CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.
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