Los Angeles Capital Management LLC Cuts Stock Position in CareDx, Inc (NASDAQ:CDNA)

Los Angeles Capital Management LLC lessened its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 37.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 70,551 shares of the company's stock after selling 41,385 shares during the period. Los Angeles Capital Management LLC owned approximately 0.13% of CareDx worth $2,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CDNA. Principal Financial Group Inc. acquired a new position in CareDx during the 3rd quarter worth approximately $557,000. Hanseatic Management Services Inc. purchased a new position in CareDx in the third quarter worth $781,000. Semanteon Capital Management LP acquired a new stake in CareDx in the third quarter valued at $239,000. Allspring Global Investments Holdings LLC lifted its holdings in CareDx by 868.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company's stock valued at $6,401,000 after acquiring an additional 183,823 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of CareDx during the 3rd quarter worth $373,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CDNA. Craig Hallum raised their price objective on shares of CareDx from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Wells Fargo & Company assumed coverage on CareDx in a report on Tuesday, August 27th. They issued an "underweight" rating and a $28.00 price target on the stock. BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. HC Wainwright reissued a "neutral" rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of CareDx from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.60.

CareDx Stock Down 5.4 %

Shares of CDNA traded down $1.23 during trading hours on Thursday, reaching $21.55. 991,237 shares of the company traded hands, compared to its average volume of 902,665. The stock has a market capitalization of $1.16 billion, a PE ratio of -7.97 and a beta of 1.80. The stock has a fifty day simple moving average of $26.91 and a 200 day simple moving average of $21.52. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million for the quarter, compared to analysts' expectations of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The firm's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the company earned ($0.43) EPS. Research analysts predict that CareDx, Inc will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 21,557 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the sale, the insider now directly owns 284,983 shares of the company's stock, valued at $9,284,746.14. The trade was a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Maag sold 35,552 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the completion of the transaction, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. This trade represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,340 shares of company stock valued at $3,025,415. Company insiders own 4.90% of the company's stock.

CareDx 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.