New York State Common Retirement Fund Sells 15,584 Shares of CareDx, Inc (NASDAQ:CDNA)

New York State Common Retirement Fund trimmed its position in CareDx, Inc (NASDAQ:CDNA) by 48.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,339 shares of the company’s stock after selling 15,584 shares during the period. New York State Common Retirement Fund’s holdings in CareDx were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of CareDx in the 3rd quarter worth approximately $204,000. Hanseatic Management Services Inc. purchased a new position in shares of CareDx in the 3rd quarter worth approximately $781,000. Principal Financial Group Inc. purchased a new position in shares of CareDx in the 3rd quarter worth approximately $557,000. KBC Group NV purchased a new position in shares of CareDx in the 3rd quarter worth approximately $99,000. Finally, Royce & Associates LP boosted its stake in shares of CareDx by 0.3% in the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after buying an additional 1,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. HC Wainwright dropped their price objective on CareDx from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday. Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research note on Thursday, February 27th. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $24.00 in a research note on Wednesday, January 15th. Finally, BTIG Research lowered their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.83.

CareDx Stock Performance

Shares of NASDAQ:CDNA opened at $20.30 on Wednesday. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The firm has a fifty day moving average of $22.70 and a 200 day moving average of $25.14. The firm has a market capitalization of $1.09 billion, a PE ratio of -7.52 and a beta of 1.87.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, February 26th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $1.46. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company had revenue of $86.58 million during the quarter, compared to analyst estimates of $84.56 million. On average, sell-side analysts forecast that CareDx, Inc will post -0.9 EPS for the current fiscal year.

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.