Russell Investments Group Ltd. Cuts Stake in CareDx, Inc (NASDAQ:CDNA)

Russell Investments Group Ltd. cut its stake in CareDx, Inc (NASDAQ:CDNAGet Rating) by 63.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,706 shares of the company’s stock after selling 38,181 shares during the period. Russell Investments Group Ltd.’s holdings in CareDx were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CDNA. Lindbrook Capital LLC raised its stake in CareDx by 2,183.9% during the fourth quarter. Lindbrook Capital LLC now owns 708 shares of the company’s stock worth $32,000 after purchasing an additional 677 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of CareDx by 41.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 63,451 shares of the company’s stock valued at $2,886,000 after buying an additional 18,662 shares during the period. Balyasny Asset Management LLC raised its stake in shares of CareDx by 4.4% during the third quarter. Balyasny Asset Management LLC now owns 262,447 shares of the company’s stock valued at $16,631,000 after purchasing an additional 11,093 shares during the period. Comerica Bank boosted its stake in CareDx by 269.7% during the 3rd quarter. Comerica Bank now owns 90,752 shares of the company’s stock valued at $6,542,000 after acquiring an additional 66,206 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of CareDx by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 346,056 shares of the company’s stock valued at $21,928,000 after purchasing an additional 20,494 shares in the last quarter.

In other CareDx news, insider Reginald Seeto sold 814 shares of the firm’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $42.13, for a total transaction of $34,293.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Maag sold 10,000 shares of the company’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $32.81, for a total transaction of $328,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,112 shares of company stock valued at $2,808,806. Company insiders own 4.60% of the company’s stock.

A number of equities analysts have commented on CDNA shares. Raymond James decreased their target price on CareDx from $90.00 to $52.00 and set a “strong-buy” rating for the company in a research note on Friday, February 25th. BTIG Research decreased their target price on shares of CareDx from $100.00 to $65.00 in a research report on Monday, February 28th. Craig Hallum lowered their price target on CareDx from $106.00 to $87.00 in a research report on Friday, February 25th. Zacks Investment Research cut shares of CareDx from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 13th. Finally, StockNews.com cut shares of CareDx from a “hold” rating to a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CareDx has a consensus rating of “Buy” and a consensus target price of $81.80.

Shares of CDNA opened at $36.81 on Monday. The business’s fifty day moving average price is $38.19 and its two-hundred day moving average price is $45.79. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -62.39 and a beta of 0.68. CareDx, Inc has a 52 week low of $27.87 and a 52 week high of $96.88.

CareDx (NASDAQ:CDNAGet Rating) last released its earnings results on Thursday, February 24th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.12). The company had revenue of $79.22 million during the quarter, compared to analyst estimates of $78.10 million. CareDx had a negative net margin of 10.35% and a negative return on equity of 6.49%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. On average, equities analysts forecast that CareDx, Inc will post -0.92 earnings per share for the current fiscal year.

CareDx Company Profile (Get Rating)

CareDx, Inc discovers, develops, and commercializes diagnostic solutions for transplant patients and caregivers worldwide. It 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.

See Also

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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