New York State Common Retirement Fund lifted its position in shares of CareDx Inc (NASDAQ:CDNA) by 95.1% in the first quarter, Holdings Channel reports. The institutional investor owned 64,592 shares of the company’s stock after purchasing an additional 31,492 shares during the period. New York State Common Retirement Fund’s holdings in CareDx were worth $2,036,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CDNA. Lord Abbett & CO. LLC increased its holdings in shares of CareDx by 219.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,493,150 shares of the company’s stock worth $37,538,000 after buying an additional 1,025,020 shares during the last quarter. Redwood Investments LLC acquired a new stake in shares of CareDx during the 1st quarter worth $11,236,000. MUFG Securities EMEA plc acquired a new stake in shares of CareDx during the 4th quarter worth $6,388,000. Bellevue Group AG increased its holdings in shares of CareDx by 59.2% during the 4th quarter. Bellevue Group AG now owns 536,488 shares of the company’s stock worth $13,487,000 after buying an additional 199,439 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of CareDx by 7.0% during the 4th quarter. BlackRock Inc. now owns 2,491,800 shares of the company’s stock worth $62,644,000 after buying an additional 162,939 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.
In related news, insider Sasha King sold 10,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $29.81, for a total value of $298,100.00. Following the completion of the sale, the insider now directly owns 75,137 shares in the company, valued at approximately $2,239,833.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Brian Bell sold 14,894 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $32.42, for a total value of $482,863.48. Following the completion of the sale, the chief financial officer now owns 90,623 shares of the company’s stock, valued at $2,937,997.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,346 shares of company stock valued at $3,862,573. 3.40% of the stock is owned by insiders.
CDNA has been the subject of a number of research analyst reports. BidaskClub downgraded CareDx from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Jefferies Financial Group initiated coverage on CareDx in a report on Friday, February 15th. They set a “buy” rating and a $35.00 price objective for the company. HC Wainwright set a $30.00 price objective on CareDx and gave the stock a “hold” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a report on Thursday, March 7th. Finally, TheStreet upgraded CareDx from a “d” rating to a “c” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.17.
Shares of NASDAQ CDNA opened at $37.93 on Friday. CareDx Inc has a 12-month low of $10.31 and a 12-month high of $39.38. The firm has a market capitalization of $1.61 billion, a P/E ratio of -28.95 and a beta of 0.88.
CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.03). CareDx had a negative net margin of 51.21% and a negative return on equity of 52.93%. The company had revenue of $25.98 million during the quarter, compared to analyst estimates of $24.27 million. Equities analysts anticipate that CareDx Inc will post -0.52 earnings per share for the current year.
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CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.
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