Virtus Investment Advisers Inc. Has $1.23 Million Holdings in CareDx, Inc (NASDAQ:CDNA)

Virtus Investment Advisers Inc. decreased its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 28.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,445 shares of the company’s stock after selling 15,700 shares during the quarter. CareDx comprises approximately 1.0% of Virtus Investment Advisers Inc.’s investment portfolio, making the stock its 19th largest holding. Virtus Investment Advisers Inc. owned about 0.07% of CareDx worth $1,232,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Quarry LP bought a new stake in CareDx in the 3rd quarter valued at about $27,000. Point72 DIFC Ltd bought a new stake in shares of CareDx during the third quarter valued at approximately $393,000. Point72 Asset Management L.P. acquired a new position in shares of CareDx during the third quarter worth approximately $8,012,000. Janus Henderson Group PLC bought a new position in shares of CareDx in the 3rd quarter worth $684,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in CareDx in the 3rd quarter valued at $320,000.

Insider Transactions at CareDx

In related news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director now directly owns 330,024 shares in the company, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company assumed coverage on CareDx in a research note on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target for the company. HC Wainwright reissued a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, BTIG Research dropped their target price on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Stock Performance

Shares of CDNA stock opened at $24.70 on Friday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.15 and a beta of 1.84. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The company has a 50-day simple moving average of $25.27 and a two-hundred day simple moving average of $22.78.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period last year, the company posted ($0.43) earnings per share. On average, sell-side analysts forecast that CareDx, Inc will post -0.7 EPS for the current fiscal year.

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.