PNC Financial Services Group Inc. Increases Position in CareDx, Inc. $CDNA

PNC Financial Services Group Inc. raised its holdings in CareDx, Inc. (NASDAQ:CDNA) by 162.0% in the second quarter, Holdings Channel reports. The fund owned 11,702 shares of the company’s stock after buying an additional 7,236 shares during the period. PNC Financial Services Group Inc.’s holdings in CareDx were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in shares of CareDx by 6.1% in the first quarter. Acadian Asset Management LLC now owns 359,303 shares of the company’s stock valued at $6,373,000 after purchasing an additional 20,806 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of CareDx by 67.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company’s stock valued at $950,000 after purchasing an additional 21,627 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CareDx during the second quarter worth about $352,000. Strs Ohio purchased a new stake in shares of CareDx during the 1st quarter valued at approximately $462,000. Finally, Envestnet Asset Management Inc. increased its stake in CareDx by 17.7% during the second quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock worth $439,000 after acquiring an additional 3,389 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BTIG Research increased their price target on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. William Blair began coverage on CareDx in a report on Tuesday, August 26th. They issued a “market perform” rating on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of CareDx from $19.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, CareDx has a consensus rating of “Hold” and an average price target of $26.00.

CareDx Stock Performance

Shares of CDNA stock opened at $17.81 on Friday. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $26.37. The firm has a market cap of $916.02 million, a price-to-earnings ratio of 17.46 and a beta of 2.50. The stock’s 50-day moving average is $15.37 and its two-hundred day moving average is $15.61.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.15. The business had revenue of $100.06 million during the quarter, compared to the consensus estimate of $95.25 million. CareDx had a return on equity of 18.03% and a net margin of 17.97%.The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) earnings per share. CareDx has set its FY 2025 guidance at EPS. As a group, research analysts predict that CareDx, Inc. will post -0.9 EPS for the current 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.