CareDx, Inc. (NASDAQ:CDNA) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in CareDx, Inc. (NASDAQ:CDNA) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,706 shares of the company’s stock after selling 1,172 shares during the period. Teacher Retirement System of Texas’ holdings in CareDx were worth $243,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Divisadero Street Capital Management LP purchased a new stake in shares of CareDx in the 4th quarter valued at approximately $15,239,000. Chevy Chase Trust Holdings LLC acquired a new position in shares of CareDx in the 1st quarter worth approximately $9,502,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of CareDx by 52.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock worth $26,625,000 after acquiring an additional 428,864 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock worth $47,258,000 after acquiring an additional 330,627 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock worth $104,047,000 after acquiring an additional 323,554 shares during the last quarter.

CareDx Trading Up 0.8%

Shares of CDNA opened at $11.91 on Friday. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $34.84. The stock has a market cap of $663.15 million, a P/E ratio of 10.36 and a beta of 2.19. The stock’s 50-day moving average price is $18.23 and its two-hundred day moving average price is $19.52.

CareDx (NASDAQ:CDNA) last released its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The firm had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast that CareDx, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling

In related news, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the sale, the director owned 53,979 shares of the company’s stock, valued at approximately $941,933.55. This trade represents a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total value of $465,010.56. Following the transaction, the director owned 37,045 shares in the company, valued at approximately $591,238.20. This represents a 44.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,078 shares of company stock worth $2,419,915 over the last three months. Company insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CDNA. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group lowered their target price on shares of CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Craig Hallum lowered their target price on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 target price on shares of CareDx in a report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of CareDx from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

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.