First Eagle Investment Management LLC Trims Position in CareDx, Inc (NASDAQ:CDNA)

First Eagle Investment Management LLC decreased its holdings in CareDx, Inc (NASDAQ:CDNA) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 968,552 shares of the company’s stock after selling 36,555 shares during the quarter. First Eagle Investment Management LLC owned about 1.86% of CareDx worth $15,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock worth $23,492,000 after purchasing an additional 88,100 shares in the last quarter. Plato Investment Management Ltd bought a new position in CareDx in the second quarter worth about $62,000. Federated Hermes Inc. raised its stake in CareDx by 7.4% in the second quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock worth $575,000 after buying an additional 2,536 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in CareDx in the second quarter worth about $142,000. Finally, American Century Companies Inc. boosted its position in CareDx by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 108,366 shares of the company’s stock valued at $1,683,000 after acquiring an additional 11,168 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Monday, August 19th. StockNews.com downgraded CareDx from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Craig Hallum boosted their target price on shares of CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.80.

CareDx Price Performance

Shares of CareDx stock opened at $29.26 on Thursday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -8.56 and a beta of 1.77. CareDx, Inc has a 1 year low of $4.80 and a 1 year high of $34.84. The firm’s 50-day moving average is $25.64 and its 200 day moving average is $16.83.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.37. The firm had revenue of $92.27 million for the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative net margin of 53.73% and a negative return on equity of 53.65%. On average, equities analysts expect that CareDx, Inc will post -0.84 EPS for the current fiscal year.

Insider Activity at CareDx

In other news, insider Alexander L. Johnson sold 21,557 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alexander L. Johnson sold 34,231 shares of the stock in a transaction that occurred on 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 in the company, valued at $9,561,179.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander L. Johnson sold 21,557 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the sale, the insider now owns 284,983 shares in the company, valued at approximately $9,284,746.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,340 shares of company stock valued at $3,025,415. 4.20% of the stock is owned by corporate insiders.

CareDx 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.