Virtus Investment Advisers Inc. Has $778,000 Stock Position in CareDx, Inc (NASDAQ:CDNA)

Virtus Investment Advisers Inc. cut its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,338 shares of the company’s stock after selling 3,107 shares during the quarter. Virtus Investment Advisers Inc.’s holdings in CareDx were worth $778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock valued at $27,000 after purchasing an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in CareDx by 553.7% in 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. State of Wyoming acquired a new stake in shares of CareDx in the fourth quarter valued at approximately $91,000. Plato Investment Management Ltd grew its stake in CareDx by 34.1% in the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock valued at $116,000 after purchasing an additional 1,370 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in CareDx by 41.5% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock worth $200,000 after purchasing an additional 2,742 shares during the period.

CareDx Stock Up 8.9%

CareDx stock opened at $17.54 on Monday. The business has a 50-day simple moving average of $17.62 and a two-hundred day simple moving average of $20.91. The company has a market cap of $976.64 million, a P/E ratio of -6.50 and a beta of 2.27. CareDx, Inc has a 52-week low of $12.90 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last posted its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Research analysts anticipate that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at CareDx

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