Envestnet Asset Management Inc. Acquires 3,389 Shares of CareDx, Inc. $CDNA

Envestnet Asset Management Inc. boosted its holdings in CareDx, Inc. (NASDAQ:CDNA) by 17.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,489 shares of the company’s stock after acquiring an additional 3,389 shares during the period. Envestnet Asset Management Inc.’s holdings in CareDx were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. MCF Advisors LLC raised its position in shares of CareDx by 292.9% in the second quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares during the period. PNC Financial Services Group Inc. grew its stake in CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company’s stock valued at $79,000 after buying an additional 4,444 shares during the last quarter. AlphaQuest LLC raised its holdings in CareDx by 40.0% in the 2nd quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock valued at $187,000 after acquiring an additional 2,736 shares during the period. Moors & Cabot Inc. bought a new position in CareDx in the 1st quarter valued at about $201,000. Finally, Teza Capital Management LLC acquired a new stake in CareDx during the first quarter worth approximately $263,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. William Blair initiated coverage on CareDx in a research report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Wall Street Zen raised CareDx from a “sell” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company lowered 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. Weiss Ratings reissued a “hold (c-)” rating on shares of CareDx in a report on Wednesday, November 19th. Finally, BTIG Research upped their price target on shares of CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, CareDx has an average rating of “Hold” and an average target price of $26.00.

CareDx Stock Performance

CDNA opened at $17.90 on Wednesday. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $26.37. The firm has a market cap of $920.65 million, a P/E ratio of 17.55 and a beta of 2.50. The business’s fifty day moving average is $15.23 and its 200-day moving average is $15.58.

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