Empirical Financial Services LLC d.b.a. Empirical Wealth Management Cuts Position in CareDx, Inc (NASDAQ:CDNA)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its holdings in CareDx, Inc (NASDAQ:CDNA) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,163 shares of the company’s stock after selling 500 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in CareDx were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP purchased a new position in CareDx in the third quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd bought a new stake in shares of CareDx in the third quarter valued at $52,000. KBC Group NV purchased a new position in shares of CareDx during the 3rd quarter valued at $99,000. nVerses Capital LLC grew its stake in shares of CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock worth $103,000 after acquiring an additional 2,100 shares during the period. Finally, Quest Partners LLC increased its holdings in CareDx by 37.8% in the 3rd quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after acquiring an additional 1,540 shares during the last quarter.

CareDx Price Performance

CDNA stock opened at $22.98 on Friday. The firm has a 50 day simple moving average of $22.97 and a two-hundred day simple moving average of $24.93. The stock has a market cap of $1.23 billion, a PE ratio of -8.51 and a beta of 1.86. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.11. The firm had revenue of $82.88 million during 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%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.43) earnings per share. On average, research analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

CDNA has been the topic of several recent research reports. HC Wainwright reaffirmed a “neutral” rating and set a $26.00 price objective on shares of CareDx in a report on Tuesday, January 14th. BTIG Research cut their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group lifted their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CareDx currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Insider Buying and Selling at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the company’s 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 sale, the director now directly owns 330,024 shares in the company, valued at $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

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.