First Eagle Investment Management LLC Buys 96,123 Shares of CareDx, Inc. $CDNA

First Eagle Investment Management LLC grew its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 25.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 475,146 shares of the company’s stock after buying an additional 96,123 shares during the period. First Eagle Investment Management LLC owned approximately 0.92% of CareDx worth $6,909,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CDNA. Rafferty Asset Management LLC increased its stake in CareDx by 29.6% during the third quarter. Rafferty Asset Management LLC now owns 92,498 shares of the company’s stock valued at $1,345,000 after acquiring an additional 21,129 shares during the period. Quantbot Technologies LP acquired a new stake in shares of CareDx during the 3rd quarter worth approximately $89,000. Palumbo Wealth Management LLC bought a new stake in shares of CareDx during the third quarter valued at approximately $538,000. Zweig DiMenna Associates LLC raised its stake in shares of CareDx by 153.8% in the third quarter. Zweig DiMenna Associates LLC now owns 575,000 shares of the company’s stock valued at $8,360,000 after purchasing an additional 348,400 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of CareDx in the third quarter valued at $446,000.

CareDx Price Performance

Shares of CareDx stock opened at $19.06 on Thursday. The firm has a market cap of $976.25 million, a P/E ratio of -47.65 and a beta of 2.52. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $21.49. The firm has a 50 day simple moving average of $19.58 and a 200 day simple moving average of $16.99.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The firm had revenue of $108.39 million during the quarter, compared to the consensus estimate of $102.76 million. During the same quarter in the prior year, the business earned $0.18 EPS. CareDx’s revenue was up 25.2% on a year-over-year basis. On average, sell-side analysts expect that CareDx, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CDNA. Craig Hallum lowered shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Tuesday, January 6th. Wells Fargo & Company lifted their target price on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. BTIG Research lifted their price objective on CareDx from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings lowered CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.33.

Insider Activity at CareDx

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 29,636 shares of company stock worth $625,949. Insiders own 4.40% of the company’s stock.

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.