Federated Hermes Inc. Grows Position in CareDx, Inc (NASDAQ:CDNA)

Federated Hermes Inc. grew its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 182.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 101,577 shares of the company’s stock after acquiring an additional 65,663 shares during the period. Federated Hermes Inc.’s holdings in CareDx were worth $2,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CDNA. Lord Abbett & CO. LLC acquired a new stake in shares of CareDx in the 3rd quarter worth approximately $10,873,000. Vanguard Group Inc. grew its holdings in CareDx by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock valued at $104,047,000 after purchasing an additional 323,554 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of CareDx by 25.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 875,197 shares of the company’s stock valued at $18,738,000 after buying an additional 178,304 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CareDx by 720.0% during the 4th quarter. JPMorgan Chase & Co. now owns 197,912 shares of the company’s stock worth $4,237,000 after buying an additional 173,776 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of CareDx in the 4th quarter worth about $3,694,000.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $18.81 on Monday. The firm has a market cap of $1.04 billion, a P/E ratio of -6.97 and a beta of 2.18. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The firm’s 50 day moving average price is $20.23 and its 200 day moving average price is $22.69.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $1.46. The business had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. As a group, equities analysts predict that CareDx, Inc will post -0.9 EPS for the current year.

Analyst Ratings Changes

CDNA has been the subject of several recent research reports. HC Wainwright dropped their target price on shares of CareDx from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research note on Thursday, February 27th. Finally, Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and an average target price of $31.83.

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.