ARS Investment Partners LLC Has $1.87 Million Stock Holdings in CareDx, Inc. $CDNA

ARS Investment Partners LLC reduced its stake in CareDx, Inc. (NASDAQ:CDNA) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,885 shares of the company’s stock after selling 6,083 shares during the period. ARS Investment Partners LLC owned 0.18% of CareDx worth $1,874,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of CareDx by 76.1% in the 1st quarter. Invesco Ltd. now owns 2,667,861 shares of the company’s stock valued at $47,355,000 after buying an additional 1,153,011 shares during the period. SG Capital Management LLC bought a new position in CareDx in the second quarter worth approximately $6,171,000. Russell Investments Group Ltd. grew its stake in CareDx by 89.9% in the first quarter. Russell Investments Group Ltd. now owns 594,851 shares of the company’s stock valued at $10,559,000 after acquiring an additional 281,592 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in CareDx in the second quarter valued at approximately $4,428,000. Finally, Nuveen LLC bought a new stake in shares of CareDx during the first quarter valued at approximately $3,483,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CDNA shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a report on Thursday, November 13th. BTIG Research upped their price objective on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wall Street Zen raised shares of CareDx from a “sell” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company reduced their price objective on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Finally, William Blair assumed coverage on shares of CareDx in a report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

CareDx Stock Performance

Shares of CDNA stock opened at $15.76 on Wednesday. The company has a market capitalization of $810.58 million, a price-to-earnings ratio of 15.45 and a beta of 2.50. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $26.37. The company has a 50-day simple moving average of $14.91 and a two-hundred day simple moving average of $15.51.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. The firm had revenue of $100.06 million for the quarter, compared to the consensus estimate of $95.25 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) EPS. CareDx has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

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.