CareDx, Inc (NASDAQ:CDNA) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,498,018 shares of the company's stock after selling 154,741 shares during the period. Nikko Asset Management Americas Inc. owned 2.79% of CareDx worth $32,013,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtue Capital Management LLC bought a new position in shares of CareDx in the third quarter worth approximately $755,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of CareDx in the 3rd quarter worth $1,671,000. Geode Capital Management LLC increased its stake in shares of CareDx by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company's stock worth $38,343,000 after purchasing an additional 32,141 shares in the last quarter. Barclays PLC boosted its position in shares of CareDx by 123.8% in the third quarter. Barclays PLC now owns 98,505 shares of the company's stock worth $3,075,000 after purchasing an additional 54,482 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of CareDx by 1,784.8% during the third quarter. BNP Paribas Financial Markets now owns 49,420 shares of the company's stock worth $1,543,000 after purchasing an additional 46,798 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CDNA. HC Wainwright dropped 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 upgraded shares of CareDx from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Stephens reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. Finally, Wells Fargo & Company upgraded CareDx from an "underweight" rating to an "equal weight" rating and cut their target price for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, CareDx presently has a consensus rating of "Moderate Buy" and an average price target of $31.83.

Remove Ads

CareDx Stock Up 2.2 %

CDNA traded up $0.42 on Friday, reaching $19.32. The company had a trading volume of 778,253 shares, compared to its average volume of 834,012. The stock has a market capitalization of $1.07 billion, a PE ratio of -7.16 and a beta of 1.95. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The stock has a 50-day moving average price of $21.88 and a 200-day moving average price of $24.07.

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