CareDx Inc (CDNA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in CareDx Inc (NASDAQ:CDNA) by 27.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,224 shares of the company’s stock after selling 47,776 shares during the quarter. California Public Employees Retirement System owned 0.35% of CareDx worth $1,557,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Fred Alger Management Inc. raised its position in CareDx by 61.4% in the second quarter. Fred Alger Management Inc. now owns 3,262,790 shares of the company’s stock valued at $39,937,000 after purchasing an additional 1,241,668 shares during the period. BlackRock Inc. raised its position in CareDx by 3,947.9% in the second quarter. BlackRock Inc. now owns 2,261,305 shares of the company’s stock valued at $27,677,000 after purchasing an additional 2,205,441 shares during the period. Gagnon Securities LLC raised its position in CareDx by 9.5% in the second quarter. Gagnon Securities LLC now owns 1,960,025 shares of the company’s stock valued at $23,991,000 after purchasing an additional 170,673 shares during the period. Gagnon Advisors LLC raised its position in CareDx by 1.1% in the second quarter. Gagnon Advisors LLC now owns 965,894 shares of the company’s stock valued at $11,823,000 after purchasing an additional 10,136 shares during the period. Finally, RTW Investments LP raised its position in CareDx by 36.4% in the second quarter. RTW Investments LP now owns 764,532 shares of the company’s stock valued at $9,358,000 after purchasing an additional 203,932 shares during the period. Institutional investors own 74.48% of the company’s stock.

CDNA stock opened at $27.45 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $997.70 million, a P/E ratio of -35.65 and a beta of 1.06. CareDx Inc has a 12-month low of $4.92 and a 12-month high of $29.60.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $17.82 million for the quarter, compared to the consensus estimate of $15.30 million. CareDx had a negative return on equity of 108.99% and a negative net margin of 121.92%. On average, research analysts expect that CareDx Inc will post -0.94 EPS for the current year.

A number of equities research analysts have commented on the company. Raymond James restated a “strong-buy” rating and issued a $30.00 target price on shares of CareDx in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded CareDx from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, July 11th. Craig Hallum set a $35.00 target price on CareDx and gave the company a “buy” rating in a research report on Wednesday, October 3rd. HC Wainwright set a $17.00 target price on CareDx and gave the company a “hold” rating in a research report on Friday, August 10th. Finally, BidaskClub upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. CareDx currently has a consensus rating of “Buy” and an average price target of $28.60.

In related news, CFO Michael Brian Bell sold 12,500 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $16.84, for a total value of $210,500.00. Following the sale, the chief financial officer now owns 68,593 shares in the company, valued at approximately $1,155,106.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Neil Gagnon sold 108,599 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $27.05, for a total value of $2,937,602.95. The disclosure for this sale can be found here. Insiders sold a total of 163,954 shares of company stock worth $4,187,359 in the last quarter. Company insiders own 3.40% of the company’s stock.

About CareDx

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.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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