ProShare Advisors LLC acquired a new stake in shares of CareDx, Inc. (NASDAQ:CDNA – Free Report) during the 3rd quarter, Holdings Channel reports. The firm acquired 6,439 shares of the company’s stock, valued at approximately $419,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of CDNA. Reyes Financial Architecture Inc. acquired a new stake in shares of CareDx in the 3rd quarter worth about $50,000. Signaturefd LLC bought a new position in CareDx in the 3rd quarter valued at $51,000. Nykredit A S purchased a new stake in shares of CareDx during the 2nd quarter valued at $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of CareDx in the 2nd quarter worth about $29,000. Finally, IFP Advisors Inc boosted its holdings in shares of CareDx by 1,158.0% in the 3rd quarter. IFP Advisors Inc now owns 1,107 shares of the company’s stock worth $72,000 after buying an additional 1,019 shares during the last quarter.
CareDx Stock Down 4.3%
NASDAQ:CDNA opened at $80.77 on Wednesday. CareDx, Inc. has a twelve month low of $15.15 and a twelve month high of $90.87. The stock has a market cap of $4.24 billion, a P/E ratio of 33.80 and a beta of 2.50. The business’s 50-day moving average price is $64.53 and its two-hundred day moving average price is $35.82.
CareDx (NASDAQ:CDNA – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.25 by $0.45. The firm had revenue of $139.36 million for the quarter, compared to analyst estimates of $121.96 million. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company’s revenue was up 39.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. On average, equities research analysts expect that CareDx, Inc. will post 0.99 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CDNA. Zacks Research raised shares of CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 5th. William Blair raised CareDx to a “hold” rating in a research report on Thursday, July 16th. BTIG Research lifted their price objective on CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Weiss Ratings raised shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Canaccord Genuity Group set a $99.00 target price on shares of CareDx in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.40.
Read Our Latest Report on CDNA
Insider Buying and Selling
In other news, CFO Keith Kennedy sold 61,961 shares of CareDx stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $77.82, for a total transaction of $4,821,805.02. Following the sale, the chief financial officer owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. The trade was a 23.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by insiders.
CareDx Profile
CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.
Read More
- Five stocks we like better than CareDx
- Why Kinder Morgan’s Chairman Just Bought $15 Million in Stock
- Rocket Lab’s Record Backlog Could Fuel a Rebound, But Neutron Raises the Stakes
- Don’t Let Their Low Yields Fool You: 3 Dividend Stocks Worth Watching
- A $4 Billion Jolt: NRG Energy Powers Data Center Ambitions
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 – Free Report).
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.
