Franklin Resources Inc. Sells 40,671 Shares of CareDx, Inc. $CDNA

Franklin Resources Inc. lowered its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 35.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 74,144 shares of the company’s stock after selling 40,671 shares during the quarter. Franklin Resources Inc. owned 0.14% of CareDx worth $1,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CDNA. MCF Advisors LLC boosted its stake in CareDx by 292.9% during the second quarter. MCF Advisors LLC now owns 1,336 shares of the company’s stock worth $26,000 after buying an additional 996 shares during the period. Allworth Financial LP purchased a new position in shares of CareDx during the 2nd quarter worth about $40,000. PNC Financial Services Group Inc. grew its holdings in CareDx by 20,200.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company’s stock valued at $79,000 after purchasing an additional 4,444 shares during the last quarter. AlphaQuest LLC grew its holdings in CareDx by 40.0% during the 2nd quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock valued at $187,000 after purchasing an additional 2,736 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in CareDx by 12.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 11,885 shares of the company’s stock worth $232,000 after purchasing an additional 1,293 shares during the period.

CareDx Stock Down 4.5%

Shares of NASDAQ CDNA opened at $18.53 on Friday. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $25.95. The firm has a market cap of $953.00 million, a PE ratio of 15.57 and a beta of 2.54. The business has a fifty day simple moving average of $15.74 and a two-hundred day simple moving average of $15.68.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.13 by $0.15. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The firm had revenue of $100.06 million for the quarter, compared to analyst estimates of $95.25 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on CDNA shares. Wells Fargo & Company dropped their target price on CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. BTIG Research upped their price objective on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a research report on Monday. Finally, William Blair started coverage on shares of CareDx in a research note on Tuesday, August 26th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.

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.