CareDx, Inc (NASDAQ:CDNA) Stock Position Reduced by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC decreased its stake in CareDx, Inc (NASDAQ:CDNA) by 46.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,291 shares of the company’s stock after selling 24,064 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.05% of CareDx worth $852,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its position in CareDx by 1,021.8% during the second quarter. GAMMA Investing LLC now owns 2,210 shares of the company’s stock valued at $34,000 after acquiring an additional 2,013 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of CareDx in the 2nd quarter valued at $62,000. Meeder Asset Management Inc. bought a new stake in CareDx in the second quarter worth $142,000. Allspring Global Investments Holdings LLC increased its position in CareDx by 10,267.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 18,661 shares of the company’s stock worth $198,000 after buying an additional 18,481 shares during the last quarter. Finally, CWM LLC lifted its position in shares of CareDx by 560.1% in the third quarter. CWM LLC now owns 7,604 shares of the company’s stock worth $237,000 after buying an additional 6,452 shares during the last quarter.

CareDx Stock Performance

Shares of CDNA stock opened at $24.48 on Friday. The firm has a fifty day moving average of $29.68 and a 200-day moving average of $19.55. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -7.16 and a beta of 1.77. CareDx, Inc has a 52-week low of $4.80 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.37. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. The firm had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. On average, sell-side analysts predict that CareDx, Inc will post -0.84 earnings per share for the current year.

Analysts Set New Price Targets

CDNA has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company assumed coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. HC Wainwright restated a “neutral” rating on shares of CareDx in a report on Thursday, August 1st. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, BTIG Research upgraded CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.60.

Insider Buying and Selling at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of CareDx stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander L. Johnson sold 34,231 shares of the business’s 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 directly owns 284,983 shares in the company, valued at $9,561,179.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock worth $3,025,415 over the last three months. Company insiders own 4.20% of the company’s stock.

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.