CareDx, Inc. $CDNA Stock: Royce & Associates LP Reduces Stake

Royce & Associates LP decreased its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 18.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 467,589 shares of the company’s stock after selling 108,382 shares during the quarter. Royce & Associates LP owned 0.89% of CareDx worth $30,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Virtus Advisers LLC increased its position in shares of CareDx by 5.8% during the third quarter. Virtus Advisers LLC now owns 44,475 shares of the company’s stock valued at $2,891,000 after acquiring an additional 2,429 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in CareDx in the 3rd quarter valued at approximately $8,463,000. Allspring Global Investments Holdings LLC lifted its position in CareDx by 4.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,000 shares of the company’s stock valued at $1,523,000 after acquiring an additional 961 shares in the last quarter. Ethic Inc. purchased a new stake in CareDx during the 3rd quarter valued at $379,000. Finally, Alps Advisors Inc. purchased a new stake in CareDx during the 3rd quarter valued at $720,000.

Analyst Ratings Changes

A number of analysts have commented on CDNA shares. BTIG Research lifted their target price on CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Piper Sandler began coverage on CareDx in a report on Wednesday. They set an “overweight” rating and a $100.00 price target on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. Canaccord Genuity Group set a $99.00 price objective on CareDx in a research report on Friday, October 30th. Finally, Weiss Ratings upgraded CareDx from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

Insider Buying and Selling

In related news, CFO Keith Kennedy sold 61,961 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $77.82, for a total transaction of $4,821,805.02. Following the completion of the sale, the chief financial officer owned 199,147 shares in the company, valued at approximately $15,497,619.54. This represents a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company’s stock.

CareDx Trading Down 2.4%

NASDAQ:CDNA traded down $1.93 during trading hours on Friday, reaching $77.88. The company had a trading volume of 716,354 shares, compared to its average volume of 1,373,271. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 32.59 and a beta of 2.51. The firm’s 50 day moving average price is $66.34 and its 200-day moving average price is $36.70. CareDx, Inc. has a 52 week low of $15.15 and a 52 week high of $90.87.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.70 earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. On average, analysts forecast that CareDx, Inc. will post 1.00 earnings per share for the current fiscal year.

CareDx Company 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.