CareDx, Inc (NASDAQ:CDNA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in CareDx, Inc (NASDAQ:CDNA) by 46.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,125 shares of the company’s stock after selling 2,765 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CareDx were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. ClariVest Asset Management LLC grew its stake in shares of CareDx by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of CareDx by 1,021.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after purchasing an additional 2,013 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in CareDx by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock valued at $312,000 after acquiring an additional 2,344 shares during the period. Allspring Global Investments Holdings LLC increased its position in CareDx by 13.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock valued at $329,000 after acquiring an additional 2,503 shares during the period. Finally, Federated Hermes Inc. increased its position in CareDx by 7.4% in the 2nd quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock valued at $575,000 after acquiring an additional 2,536 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company assumed coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 target price on the stock. Craig Hallum boosted their target price on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on CareDx from $16.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, August 19th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

CareDx Price Performance

CareDx stock opened at $29.70 on Monday. The stock’s 50-day moving average is $27.31 and its 200-day moving average is $17.69. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -8.68 and a beta of 1.77. CareDx, Inc has a 12 month low of $4.80 and a 12 month high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.37. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. The company had revenue of $92.27 million for the quarter, compared to the consensus estimate of $67.20 million. Research analysts anticipate that CareDx, Inc will post -0.84 EPS for the current year.

Insiders Place Their Bets

In other CareDx news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $10,903,992.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the transaction, the director now owns 330,024 shares in the company, valued at approximately $10,903,992.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 in the last three months. 4.20% of the stock is owned by insiders.

CareDx Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.