Federated Hermes Inc. Purchases 65,663 Shares of CareDx, Inc (NASDAQ:CDNA)

Federated Hermes Inc. raised its holdings in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 182.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,577 shares of the company's stock after buying an additional 65,663 shares during the period. Federated Hermes Inc. owned about 0.19% of CareDx worth $2,175,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. boosted its stake in shares of CareDx by 6.3% during the 4th quarter. Thompson Davis & CO. Inc. now owns 16,050 shares of the company's stock worth $344,000 after acquiring an additional 950 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CareDx by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock valued at $406,000 after purchasing an additional 1,151 shares during the period. Plato Investment Management Ltd boosted its position in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after purchasing an additional 1,370 shares during the period. Rhumbline Advisers increased its stake in CareDx by 1.8% in the 4th quarter. Rhumbline Advisers now owns 81,201 shares of the company's stock worth $1,738,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Swiss National Bank raised its holdings in CareDx by 1.9% during the 4th quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after buying an additional 1,800 shares during the period.

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CareDx Stock Performance

Shares of NASDAQ CDNA traded down $0.94 during trading hours on Wednesday, hitting $18.22. The stock had a trading volume of 507,044 shares, compared to its average volume of 855,831. The company has a market capitalization of $1.01 billion, a P/E ratio of -6.75 and a beta of 2.18. The firm's 50-day moving average price is $20.06 and its two-hundred day moving average price is $22.59. CareDx, Inc has a 52 week low of $7.42 and a 52 week high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.05 by $1.46. The company had revenue of $86.58 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. As a group, analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CDNA shares. HC Wainwright decreased their price objective on shares of CareDx from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. StockNews.com raised CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, Stephens restated an "overweight" rating and set a $40.00 price target on shares of CareDx in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.83.

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.