State Board of Administration of Florida Retirement System grew its stake in shares of CareDx Inc (NASDAQ:CDNA) by 68.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,765 shares of the company’s stock after purchasing an additional 4,785 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in CareDx were worth $296,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CareDx during the fourth quarter worth about $45,000. First Interstate Bank acquired a new position in shares of CareDx during the fourth quarter worth about $80,000. Meeder Asset Management Inc. acquired a new position in shares of CareDx during the third quarter worth about $124,000. Caxton Associates LP acquired a new position in shares of CareDx during the third quarter worth about $201,000. Finally, Federated Investors Inc. PA lifted its stake in shares of CareDx by 4,345.0% during the third quarter. Federated Investors Inc. PA now owns 12,357 shares of the company’s stock worth $356,000 after purchasing an additional 12,079 shares in the last quarter. Institutional investors own 79.20% of the company’s stock.
NASDAQ:CDNA opened at $31.12 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.65. CareDx Inc has a one year low of $5.51 and a one year high of $31.93. The stock has a market capitalization of $1.24 billion, a P/E ratio of -40.42 and a beta of 1.20.
In related news, insider Sasha King sold 7,500 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $29.03, for a total value of $217,725.00. Following the transaction, the insider now owns 81,387 shares in the company, valued at $2,362,664.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James P. Yee sold 32,500 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $23.88, for a total value of $776,100.00. Following the completion of the transaction, the insider now owns 73,543 shares in the company, valued at approximately $1,756,206.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,822 shares of company stock worth $1,828,484. Insiders own 3.40% of the company’s stock.
A number of brokerages have commented on CDNA. Zacks Investment Research upgraded CareDx from a “sell” rating to a “hold” rating in a research note on Tuesday, November 6th. BidaskClub upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Monday. Jefferies Financial Group began coverage on CareDx in a research note on Friday, February 15th. They set a “buy” rating and a $35.00 price objective on the stock. Craig Hallum restated a “buy” rating and set a $40.00 price objective on shares of CareDx in a research note on Friday, November 9th. Finally, HC Wainwright set a $28.00 price objective on CareDx and gave the stock a “hold” rating in a research note on Monday, November 12th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.50.
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CareDx Company Profile
CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.
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