Royce & Associates LP Sells 374,210 Shares of CareDx, Inc. $CDNA

Royce & Associates LP decreased its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 48.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 404,394 shares of the company’s stock after selling 374,210 shares during the quarter. Royce & Associates LP’s holdings in CareDx were worth $5,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CDNA. Hood River Capital Management LLC raised its position in shares of CareDx by 11.5% in the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock valued at $34,507,000 after buying an additional 182,025 shares in the last quarter. SG Capital Management LLC bought a new position in CareDx in the second quarter valued at approximately $6,171,000. Envestnet Asset Management Inc. raised its position in CareDx by 17.7% during the second quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock valued at $439,000 after purchasing an additional 3,389 shares in the last quarter. Geode Capital Management LLC lifted its stake in CareDx by 3.4% during the second quarter. Geode Capital Management LLC now owns 1,323,497 shares of the company’s stock worth $25,864,000 after purchasing an additional 43,074 shares during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its holdings in shares of CareDx by 153.8% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 575,000 shares of the company’s stock valued at $8,360,000 after purchasing an additional 348,400 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CDNA shares. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Tuesday, January 6th. BTIG Research lifted their target price on CareDx from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen cut shares of CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings downgraded shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Finally, Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CareDx has an average rating of “Hold” and an average target price of $27.33.

CareDx Trading Up 1.4%

Shares of CDNA stock opened at $19.06 on Thursday. The firm has a market capitalization of $976.25 million, a price-to-earnings ratio of -47.65 and a beta of 2.52. The business’s 50-day moving average price is $19.58 and its 200-day moving average price is $16.99. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $21.49.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The firm had revenue of $108.39 million during the quarter, compared to analyst estimates of $102.76 million. During the same period in the prior year, the company earned $0.18 EPS. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, sell-side analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the transaction, the chief executive officer owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 29,636 shares of company stock worth $625,949 over the last ninety days. 4.40% of the stock is currently owned by company insiders.

About CareDx

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.