Federated Hermes Inc. Cuts Stake in CareDx, Inc (NASDAQ:CDNA)

Federated Hermes Inc. lowered its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,322 shares of the company’s stock after selling 4,805 shares during the quarter. Federated Hermes Inc.’s holdings in CareDx were worth $340,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDNA. Kent Lake Capital LLC bought a new position in shares of CareDx during the 3rd quarter valued at approximately $9,628,000. ARK Investment Management LLC grew its holdings in CareDx by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 7,194,722 shares of the company’s stock valued at $86,337,000 after purchasing an additional 515,399 shares during the period. Jacobs Levy Equity Management Inc. increased its position in CareDx by 62.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,114 shares of the company’s stock worth $7,869,000 after buying an additional 432,090 shares during the last quarter. First Eagle Investment Management LLC increased its position in CareDx by 38.7% in the third quarter. First Eagle Investment Management LLC now owns 1,005,189 shares of the company’s stock worth $7,036,000 after buying an additional 280,345 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of CareDx by 25.6% in the third quarter. Acadian Asset Management LLC now owns 441,422 shares of the company’s stock valued at $3,088,000 after buying an additional 89,966 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $15.00 in a report on Wednesday. Stephens reissued an “overweight” rating and issued a $15.00 price target on shares of CareDx in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

CareDx Stock Performance

Shares of CDNA opened at $9.72 on Friday. CareDx, Inc has a 52-week low of $4.80 and a 52-week high of $12.93. The stock’s 50-day simple moving average is $9.67 and its 200 day simple moving average is $9.34. The stock has a market capitalization of $503.30 million, a price-to-earnings ratio of -2.75 and a beta of 1.51.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($2.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.97). CareDx had a negative return on equity of 51.40% and a negative net margin of 67.88%. The firm had revenue of $65.57 million during the quarter, compared to analysts’ expectations of $63.66 million. During the same period in the previous year, the company posted ($0.34) earnings per share. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. On average, research analysts forecast that CareDx, Inc will post -1.59 earnings per share for the current fiscal year.

About CareDx

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.