CareDx, Inc. $CDNA Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in CareDx, Inc. (NASDAQ:CDNA) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 496,803 shares of the company’s stock after selling 15,119 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.89% of CareDx worth $8,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its holdings in CareDx by 17.6% in the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after acquiring an additional 330,627 shares during the last quarter. Fred Alger Management LLC raised its position in CareDx by 7.3% in the fourth quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company’s stock valued at $34,556,000 after purchasing an additional 110,471 shares during the period. Jacobs Levy Equity Management Inc. raised its position in CareDx by 52.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company’s stock valued at $26,625,000 after purchasing an additional 428,864 shares during the period. Divisadero Street Capital Management LP purchased a new position in CareDx in the fourth quarter valued at about $15,239,000. Finally, Millennium Management LLC raised its position in CareDx by 37.8% in the fourth quarter. Millennium Management LLC now owns 621,307 shares of the company’s stock valued at $13,302,000 after purchasing an additional 170,568 shares during the period.

CareDx Stock Down 1.7%

Shares of CareDx stock opened at $12.75 on Tuesday. The firm has a market cap of $678.68 million, a P/E ratio of 12.50 and a beta of 2.22. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $32.97. The business has a 50-day moving average price of $15.46 and a 200 day moving average price of $17.60.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.28). The firm had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, equities research analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, Director Hannah Valantine sold 10,570 shares of CareDx stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total value of $202,521.20. Following the completion of the transaction, the director directly owned 38,994 shares in the company, valued at $747,125.04. The trade was a 21.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter Maag sold 10,000 shares of CareDx stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the transaction, the director owned 308,846 shares of the company’s stock, valued at approximately $5,738,358.68. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,961 shares of company stock worth $1,490,102 over the last ninety days. Company insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CDNA. HC Wainwright reissued a “neutral” rating and issued a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective on CareDx from $19.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. Wall Street Zen lowered CareDx from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Finally, Craig Hallum dropped their target price on CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, CareDx has a consensus rating of “Moderate Buy” and an average price target of $27.67.

CareDx Company Profile

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.