Northern Trust Corp Purchases 33,788 Shares of CareDx, Inc (NASDAQ:CDNA)

Northern Trust Corp increased its position in CareDx, Inc (NASDAQ:CDNA) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 485,789 shares of the company’s stock after purchasing an additional 33,788 shares during the quarter. Northern Trust Corp’s holdings in CareDx were worth $10,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CDNA. Sterling Capital Management LLC grew its stake in CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after purchasing an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock valued at $84,000 after acquiring an additional 3,322 shares in the last quarter. Plato Investment Management Ltd boosted its position in CareDx by 34.1% during the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after acquiring an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in CareDx by 41.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock valued at $200,000 after acquiring an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in CareDx during the 4th quarter valued at $208,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CDNA. Stephens reaffirmed an “overweight” rating and set a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. StockNews.com cut CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. The Goldman Sachs Group dropped their target price on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.33.

CareDx Price Performance

CareDx stock opened at $17.54 on Friday. The stock has a market capitalization of $976.64 million, a price-to-earnings ratio of -6.50 and a beta of 2.27. CareDx, Inc has a 1-year low of $12.90 and a 1-year high of $34.84. The business has a fifty day moving average price of $17.62 and a 200-day moving average price of $20.92.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $84.69 million during 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%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. On average, equities research analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at CareDx

In related news, Director Christine Cournoyer sold 29,136 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $15.96, for a total value of $465,010.56. Following the completion of the transaction, the director now owns 37,045 shares in the company, valued at $591,238.20. This trade represents a 44.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter Maag sold 13,281 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the completion of the transaction, the director now owns 316,743 shares of the company’s stock, valued at $5,457,481.89. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,382 shares of company stock valued at $934,509 in the last quarter. 4.90% of the stock is currently owned by corporate insiders.

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.