Franklin Resources Inc. Increases Holdings in CareDx, Inc (NASDAQ:CDNA)

Franklin Resources Inc. increased its stake in CareDx, Inc (NASDAQ:CDNA) by 34.4% during the third quarter, HoldingsChannel reports. The firm owned 59,474 shares of the company’s stock after acquiring an additional 15,238 shares during the period. Franklin Resources Inc.’s holdings in CareDx were worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CDNA. Quarry LP purchased a new stake in shares of CareDx during the 3rd quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in CareDx in the 3rd quarter worth approximately $52,000. KBC Group NV purchased a new stake in shares of CareDx in the third quarter worth $99,000. nVerses Capital LLC increased its stake in CareDx by 175.0% in 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 last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of CareDx in the second quarter worth approximately $62,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on CDNA shares. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. BTIG Research dropped their target price 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. Finally, The Goldman Sachs Group lifted their price target on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.60.

CareDx Price Performance

NASDAQ:CDNA opened at $21.44 on Friday. The firm has a market capitalization of $1.15 billion, a P/E ratio of -7.94 and a beta of 1.84. CareDx, Inc has a one year low of $7.42 and a one year high of $34.84. The company’s 50-day simple moving average is $23.13 and its 200 day simple moving average is $23.58.

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 firm had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) EPS. On average, equities research analysts expect that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

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