Russell Investments Group Ltd. Sells 77,873 Shares of CareDx Inc (NASDAQ:CDNA)

Russell Investments Group Ltd. decreased its position in shares of CareDx Inc (NASDAQ:CDNA) by 29.9% during the second quarter, HoldingsChannel reports. The fund owned 182,705 shares of the company’s stock after selling 77,873 shares during the quarter. Russell Investments Group Ltd.’s holdings in CareDx were worth $6,575,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its position in 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 valued at $396,000 after acquiring an additional 810 shares during the last quarter. Aperio Group LLC bought a new position in CareDx during the second quarter valued at $31,000. Rhumbline Advisers increased its position in CareDx by 2.2% during the first quarter. Rhumbline Advisers now owns 46,344 shares of the company’s stock valued at $1,461,000 after acquiring an additional 987 shares during the last quarter. Moody Aldrich Partners LLC increased its position in CareDx by 2.8% during the second quarter. Moody Aldrich Partners LLC now owns 52,732 shares of the company’s stock valued at $1,898,000 after acquiring an additional 1,415 shares during the last quarter. Finally, First Quadrant L P CA bought a new position in CareDx during the second quarter valued at $63,000. Institutional investors and hedge funds own 92.82% of the company’s stock.

A number of research firms have weighed in on CDNA. HC Wainwright set a $43.00 price objective on shares of CareDx and gave the company a “buy” rating in a research report on Friday, August 23rd. Craig Hallum set a $48.00 price objective on shares of CareDx and gave the company a “positive” rating in a research report on Thursday, July 11th. BidaskClub cut shares of CareDx from a “sell” rating to a “strong sell” rating in a research report on Wednesday. TheStreet cut shares of CareDx from a “c” rating to a “d” rating in a research report on Thursday, May 23rd. Finally, Raymond James boosted their price objective on shares of CareDx from $46.00 to $48.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. CareDx currently has a consensus rating of “Buy” and a consensus price target of $44.00.

In other news, insider James P. Yee sold 20,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $37.54, for a total transaction of $750,800.00. Following the completion of the sale, the insider now directly owns 62,170 shares of the company’s stock, valued at $2,333,861.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sasha King sold 30,840 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $38.38, for a total transaction of $1,183,639.20. Following the sale, the insider now directly owns 72,772 shares of the company’s stock, valued at $2,792,989.36. The disclosure for this sale can be found here. Insiders have sold 125,084 shares of company stock valued at $4,288,055 over the last three months. Insiders own 3.20% of the company’s stock.

CDNA stock traded up $1.28 during mid-day trading on Thursday, reaching $21.72. 22,849 shares of the stock traded hands, compared to its average volume of 872,618. CareDx Inc has a one year low of $19.11 and a one year high of $41.27. The stock has a market capitalization of $849.38 million, a PE ratio of -16.51 and a beta of 1.04. The business has a 50-day moving average price of $26.01 and a two-hundred day moving average price of $31.27.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). The company had revenue of $31.45 million for the quarter, compared to analysts’ expectations of $27.96 million. CareDx had a negative net margin of 38.29% and a negative return on equity of 47.53%. As a group, equities analysts anticipate that CareDx Inc will post -0.7 earnings per share for the current year.

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: Hedge Funds – Risk or Reward?

Want to see what other hedge funds are holding CDNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CareDx Inc (NASDAQ:CDNA).

Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

Receive News & Ratings for CareDx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CareDx and related companies with MarketBeat.com's FREE daily email newsletter.