Envestnet Asset Management Inc. Sells 1,596 Shares of CareDx, Inc (NASDAQ:CDNA)

Envestnet Asset Management Inc. trimmed its position in shares of CareDx, Inc (NASDAQ:CDNA) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,810 shares of the company’s stock after selling 1,596 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CareDx were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Barclays PLC boosted its stake in CareDx by 123.8% in the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after acquiring an additional 54,482 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of CareDx by 34.4% in the third quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock worth $1,862,000 after purchasing an additional 15,238 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of CareDx in the third quarter valued at about $557,000. ARS Investment Partners LLC boosted its holdings in shares of CareDx by 6.3% in the 4th quarter. ARS Investment Partners LLC now owns 101,968 shares of the company’s stock valued at $2,183,000 after buying an additional 6,083 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in CareDx by 31.0% in the 4th quarter. SG Americas Securities LLC now owns 24,087 shares of the company’s stock valued at $516,000 after purchasing an additional 5,706 shares during the last quarter.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 13,281 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director now owns 316,743 shares of the company’s stock, valued at $5,457,481.89. This represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.90% of the company’s stock.

CareDx Stock Up 1.1 %

Shares of CDNA stock opened at $15.17 on Tuesday. The company has a 50 day moving average of $18.37 and a 200-day moving average of $21.36. CareDx, Inc has a 12-month low of $9.64 and a 12-month high of $34.84. The firm has a market cap of $844.68 million, a P/E ratio of -5.62 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. During the same period last year, the firm earned ($0.03) EPS. CareDx’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts expect that CareDx, Inc will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of CareDx in a research report on Monday. Wells Fargo & Company upgraded shares of CareDx from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. StockNews.com cut CareDx from a “buy” rating to a “hold” rating in a research note on Monday. HC Wainwright restated a “neutral” rating and set a $25.00 target price on shares of CareDx in a research report on Monday. Finally, The Goldman Sachs Group lowered their target price on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CareDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

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.