Federated Investors Inc. PA Acquires 59,119 Shares of CareDx Inc (NASDAQ:CDNA)

Federated Investors Inc. PA increased its holdings in shares of CareDx Inc (NASDAQ:CDNA) by 32.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,374 shares of the company’s stock after buying an additional 59,119 shares during the period. Federated Investors Inc. PA’s holdings in CareDx were worth $7,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNA. Lord Abbett & CO. LLC increased its stake in CareDx by 219.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,493,150 shares of the company’s stock worth $37,538,000 after buying an additional 1,025,020 shares during the period. Redwood Investments LLC purchased a new stake in CareDx during the 1st quarter worth approximately $11,236,000. MUFG Securities EMEA plc purchased a new stake in CareDx during the 4th quarter worth approximately $6,388,000. Bellevue Group AG increased its stake in CareDx by 59.2% during the 4th quarter. Bellevue Group AG now owns 536,488 shares of the company’s stock worth $13,487,000 after buying an additional 199,439 shares during the period. Finally, Wells Fargo & Company MN increased its stake in CareDx by 30.8% during the 1st quarter. Wells Fargo & Company MN now owns 697,107 shares of the company’s stock worth $21,973,000 after buying an additional 164,211 shares during the period. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

In other CareDx news, Director William A. Hagstrom sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $32.35, for a total value of $485,250.00. Following the sale, the director now directly owns 25,272 shares of the company’s stock, valued at approximately $817,549.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sasha King sold 1,250 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $29.50, for a total transaction of $36,875.00. Following the completion of the sale, the insider now directly owns 77,427 shares in the company, valued at $2,284,096.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,346 shares of company stock worth $3,862,573. Insiders own 3.40% of the company’s stock.

Shares of NASDAQ:CDNA opened at $37.93 on Friday. CareDx Inc has a 52 week low of $10.31 and a 52 week high of $39.38.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.03). CareDx had a negative net margin of 51.21% and a negative return on equity of 52.93%. The firm had revenue of $25.98 million during the quarter, compared to analysts’ expectations of $24.27 million. On average, analysts expect that CareDx Inc will post -0.52 EPS for the current year.

CDNA has been the topic of several recent research reports. TheStreet raised shares of CareDx from a “d” rating to a “c” rating in a research note on Tuesday, April 2nd. BidaskClub downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. HC Wainwright raised shares of CareDx from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $43.00 in a research note on Thursday, May 9th. Raymond James upped their target price on shares of CareDx from $38.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 22nd. Finally, Piper Jaffray Companies upped their target price on shares of CareDx from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. CareDx currently has an average rating of “Buy” and an average price target of $40.17.

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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.

Further Reading: Why do corrections happen?

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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