CareDx, Inc (NASDAQ:CDNA) Position Increased by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in CareDx, Inc (NASDAQ:CDNA) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,003 shares of the company’s stock after acquiring an additional 2,536 shares during the period. Federated Hermes Inc. owned about 0.07% of CareDx worth $575,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in CareDx during the 2nd quarter worth approximately $142,000. American Century Companies Inc. grew its holdings in shares of CareDx by 11.5% during the second quarter. American Century Companies Inc. now owns 108,366 shares of the company’s stock valued at $1,683,000 after buying an additional 11,168 shares in the last quarter. ClariVest Asset Management LLC raised its position in CareDx by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in CareDx by 13.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after acquiring an additional 2,503 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in CareDx by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 193,994 shares of the company’s stock valued at $3,013,000 after acquiring an additional 12,404 shares in the last quarter.

Analyst Ratings Changes

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

Insider Transactions at CareDx

In other CareDx news, insider Alexander L. Johnson sold 21,557 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $32.58, for a total value of $702,327.06. Following the completion of the sale, the insider now directly owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,561,179.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $702,327.06. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at approximately $9,284,746.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,340 shares of company stock worth $3,025,415. Insiders own 4.20% of the company’s stock.

CareDx Price Performance

Shares of CDNA opened at $27.85 on Tuesday. The company has a market capitalization of $1.45 billion, a PE ratio of -8.14 and a beta of 1.77. CareDx, Inc has a one year low of $4.80 and a one year high of $34.84. The company’s fifty day moving average price is $26.43 and its 200 day moving average price is $17.23.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.37. The business had revenue of $92.27 million during the quarter, compared to analysts’ expectations of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. Analysts anticipate that CareDx, Inc will post -0.84 earnings per share for the current year.

CareDx Company 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.