Globeflex Capital L P bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 119,252 shares of the company’s stock, valued at approximately $3,399,000.
Several other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in CareDx by 10.1% in the 1st quarter. Janus Henderson Group PLC now owns 316,519 shares of the company’s stock valued at $5,495,000 after purchasing an additional 28,958 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of CareDx in the fourth quarter worth about $420,000. Renaissance Technologies LLC grew its stake in shares of CareDx by 7.2% in the first quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock valued at $20,561,000 after buying an additional 79,200 shares in the last quarter. Amova Asset Management Americas Inc. grew its stake in shares of CareDx by 2.0% in the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after buying an additional 28,510 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of CareDx during the 2nd quarter valued at about $1,198,000.
Wall Street Analyst Weigh In
Several research firms recently commented on CDNA. Zacks Research raised CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.75.
CareDx Stock Performance
Shares of CDNA opened at $48.61 on Monday. CareDx, Inc. has a one year low of $12.28 and a one year high of $49.76. The stock has a 50-day moving average price of $35.85 and a 200 day moving average price of $25.40. The company has a market capitalization of $2.51 billion, a P/E ratio of 23.48 and a beta of 2.38.
CareDx (NASDAQ:CDNA – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. During the same period in the previous year, the business earned ($0.16) EPS. CareDx’s revenue for the quarter was up 52.2% compared to the same quarter last year. As a group, equities research analysts forecast that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.
Insider Activity at CareDx
In other news, Director George Bickerstaff sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total transaction of $925,600.00. Following the completion of the sale, the director owned 134,061 shares of the company’s stock, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine Cournoyer sold 16,000 shares of CareDx stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the sale, the director owned 42,943 shares of the company’s stock, valued at approximately $2,015,744.42. This trade represents a 27.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 114,936 shares of company stock worth $3,770,348 over the last three months. 2.40% of the stock is owned by corporate insiders.
About CareDx
CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.
The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.
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