CareDx, Inc. $CDNA Position Increased by Gagnon Securities LLC

Gagnon Securities LLC boosted its position in CareDx, Inc. (NASDAQ:CDNA) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,729,425 shares of the company’s stock after acquiring an additional 180,513 shares during the quarter. CareDx accounts for about 5.0% of Gagnon Securities LLC’s holdings, making the stock its 5th biggest holding. Gagnon Securities LLC owned 3.25% of CareDx worth $25,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of CareDx in the 2nd quarter valued at $40,000. State of Alaska Department of Revenue purchased a new position in CareDx in the third quarter valued at $43,000. RiverPark Advisors LLC purchased a new position in CareDx in the second quarter valued at $149,000. Tower Research Capital LLC TRC raised its stake in CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after buying an additional 4,160 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in CareDx by 40.0% in the second quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock valued at $187,000 after buying an additional 2,736 shares in the last quarter.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a report on Monday, December 29th. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Tuesday, January 6th. BTIG Research raised their price objective on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wells Fargo & Company boosted their price objective on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Finally, Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.67.

CareDx Trading Up 1.7%

CDNA stock opened at $20.80 on Friday. The company has a market capitalization of $1.07 billion, a P/E ratio of 17.48 and a beta of 2.49. The business has a 50 day simple moving average of $19.32 and a 200-day simple moving average of $15.94. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $25.55.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.13 by $0.15. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The firm had revenue of $100.06 million during the quarter, compared to the consensus estimate of $95.25 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. CareDx’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts predict that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the transaction, the chief executive officer owned 597,405 shares of the company’s stock, valued at $12,641,089.80. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 29,636 shares of company stock worth $625,949 in the last three months. 4.40% of the stock is currently owned by corporate insiders.

CareDx Company Profile

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.