Principal Financial Group Inc. Invests $557,000 in CareDx, Inc (NASDAQ:CDNA)

Principal Financial Group Inc. purchased a new stake in CareDx, Inc (NASDAQ:CDNA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,833 shares of the company’s stock, valued at approximately $557,000.

A number of other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in CareDx by 6.8% in 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 buying an additional 12,404 shares during the last quarter. ClariVest Asset Management LLC boosted 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 worth $994,000 after purchasing an additional 1,810 shares during the period. American Century Companies Inc. raised its holdings in CareDx by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 108,366 shares of the company’s stock valued at $1,683,000 after acquiring an additional 11,168 shares during the period. Meeder Asset Management Inc. acquired a new stake in CareDx during the second quarter worth approximately $142,000. Finally, Federated Hermes Inc. boosted its holdings in shares of CareDx by 7.4% during the second quarter. Federated Hermes Inc. now owns 37,003 shares of the company’s stock worth $575,000 after acquiring an additional 2,536 shares during the period.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the director now owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.90% of the company’s stock.

CareDx Trading Up 3.8 %

CDNA opened at $22.33 on Monday. The company has a market cap of $1.20 billion, a P/E ratio of -8.27 and a beta of 1.86. The company has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $23.92. CareDx, Inc has a 1-year low of $7.42 and a 1-year high of $34.84.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Tuesday, October 22nd. BTIG Research reduced their price objective on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their target price on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus price target of $29.60.

About CareDx

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.