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

Los Angeles Capital Management LLC trimmed its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 37.0% in the 3rd quarter, Holdings Channel reports. The firm owned 70,551 shares of the company’s stock after selling 41,385 shares during the period. Los Angeles Capital Management LLC’s holdings in CareDx were worth $2,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in CareDx during the 3rd quarter worth approximately $557,000. Hanseatic Management Services Inc. bought a new position in CareDx during the third quarter valued at $781,000. Semanteon Capital Management LP purchased a new position in CareDx in the third quarter worth about $239,000. Allspring Global Investments Holdings LLC increased its position in shares of CareDx by 868.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 204,987 shares of the company’s stock valued at $6,401,000 after purchasing an additional 183,823 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of CareDx in the third quarter valued at $373,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CDNA. The Goldman Sachs Group boosted their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research reduced their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Craig Hallum increased their price target on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.60.

CareDx Trading Down 2.3 %

CDNA opened at $22.78 on Thursday. CareDx, Inc has a twelve month low of $7.42 and a twelve month high of $34.84. The firm has a market capitalization of $1.22 billion, a PE ratio of -8.44 and a beta of 1.80. The firm’s 50-day moving average price is $26.91 and its 200 day moving average price is $21.52.

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

Insiders Place Their Bets

In other news, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the transaction, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Maag sold 35,552 shares of CareDx stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total transaction of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $10,903,992.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,340 shares of company stock valued at $3,025,415 in the last three months. 4.90% of the stock is currently owned by insiders.

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.