Los Angeles Capital Management LLC Acquires Shares of 102,232 CareDx, Inc (NASDAQ:CDNA)

Posted by Defense World Staff on May 3rd, 2023

Los Angeles Capital Management LLC acquired a new stake in CareDx, Inc (NASDAQ:CDNA – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 102,232 shares of the company’s stock, valued at approximately $1,166,000. Los Angeles Capital Management LLC owned approximately 0.19% of CareDx at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in CareDx in the 3rd quarter valued at about $297,000. Cubist Systematic Strategies LLC increased its position in CareDx by 40.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 236,184 shares of the company’s stock valued at $4,020,000 after acquiring an additional 68,236 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in CareDx in the 3rd quarter valued at about $208,000. Lazard Asset Management LLC increased its position in CareDx by 46.3% in the 3rd quarter. Lazard Asset Management LLC now owns 7,738 shares of the company’s stock valued at $131,000 after acquiring an additional 2,448 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in CareDx by 14.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,487,161 shares of the company’s stock valued at $42,331,000 after acquiring an additional 314,136 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of CareDx from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, March 7th. StockNews.com assumed coverage on shares of CareDx in a research report on Thursday, March 16th. They set a “hold” rating for the company. Stephens cut shares of CareDx from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $19.00 to $9.00 in a research report on Tuesday, March 7th. Craig Hallum cut shares of CareDx from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $9.00 in a research report on Friday, March 3rd. Finally, BTIG Research lowered their price target on shares of CareDx from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Insider Buying and Selling

In related news, insider Reginald Seeto sold 2,819 shares of CareDx stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $17.15, for a total transaction of $48,345.85. Following the transaction, the insider now owns 575,803 shares of the company’s stock, valued at approximately $9,875,021.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Reginald Seeto sold 2,819 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $17.15, for a total value of $48,345.85. Following the completion of the transaction, the insider now owns 575,803 shares in the company, valued at $9,875,021.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Maag sold 3,269 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $15.75, for a total transaction of $51,486.75. Following the completion of the transaction, the director now owns 295,468 shares of the company’s stock, valued at approximately $4,653,621. The disclosure for this sale can be found here. Insiders have sold 30,888 shares of company stock valued at $484,947 in the last 90 days. 4.60% of the stock is owned by insiders.

CareDx Price Performance

CareDx stock opened at $7.91 on Wednesday. The company’s 50 day simple moving average is $9.79 and its 200 day simple moving average is $12.73. CareDx, Inc has a fifty-two week low of $7.63 and a fifty-two week high of $34.30. The firm has a market capitalization of $424.53 million, a price-to-earnings ratio of -5.49 and a beta of 1.03.

CareDx Profile

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CareDx, Inc operates as a transplant diagnostics company, which discovers, develops and commercializes diagnostic solutions. Its products include AlloMap, AlloSure and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.