CareDx, Inc. $CDNA Shares Newly Acquired by ProShare Advisors LLC

ProShare Advisors LLC acquired a new position in shares of CareDx, Inc. (NASDAQ:CDNA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,439 shares of the company’s stock, valued at approximately $419,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNA. BlackRock Inc. acquired a new stake in CareDx during the 2nd quarter valued at $137,219,000. Bamco Inc. NY acquired a new stake in CareDx during the second quarter worth approximately $55,214,000. Amova Asset Management Americas Inc. lifted its position in CareDx by 2.0% during the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company’s stock worth $25,608,000 after acquiring an additional 28,510 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of CareDx by 2.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after purchasing an additional 28,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of CareDx by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,461,914 shares of the company’s stock valued at $25,375,000 after purchasing an additional 151,934 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised CareDx from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. BTIG Research boosted their price objective on shares of CareDx from $81.00 to $92.00 and gave the company a “buy” rating in a report on Friday, October 30th. Wall Street Zen downgraded shares of CareDx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. HC Wainwright restated a “neutral” rating and set a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Finally, William Blair upgraded CareDx to a “hold” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, CareDx has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.

CareDx Stock Performance

Shares of CDNA opened at $80.77 on Wednesday. CareDx, Inc. has a 52 week low of $15.15 and a 52 week high of $90.87. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 33.80 and a beta of 2.50. The stock has a fifty day moving average of $64.53 and a 200-day moving average of $35.82.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.45. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The business had revenue of $139.36 million during the quarter, compared to analysts’ expectations of $121.96 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. As a group, equities analysts forecast that CareDx, Inc. will post 0.99 EPS for the current year.

Insider Activity

In other news, CFO Keith Kennedy sold 61,961 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $77.82, for a total value of $4,821,805.02. Following the sale, the chief financial officer directly owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. This represents a 23.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by company insiders.

CareDx Profile

CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.