CareDx, Inc. $CDNA Stake Boosted by Gagnon Securities LLC

Gagnon Securities LLC lifted its holdings in CareDx, Inc. (NASDAQ:CDNA) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,774,890 shares of the company’s stock after buying an additional 45,465 shares during the period. CareDx makes up 6.8% of Gagnon Securities LLC’s holdings, making the stock its biggest position. Gagnon Securities LLC owned 3.45% of CareDx worth $33,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of CareDx in the third quarter worth about $31,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx in the fourth quarter worth about $79,000. Quantbot Technologies LP purchased a new position in shares of CareDx in the third quarter worth about $89,000. CWM LLC lifted its stake in shares of CareDx by 119.1% in the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after buying an additional 4,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in CareDx by 120.6% in the 2nd 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.

Analyst Ratings Changes

Several research firms have recently commented on CDNA. BTIG Research lifted their price target on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company increased their target price on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CareDx currently has an average rating of “Hold” and an average target price of $25.00.

CareDx Price Performance

NASDAQ:CDNA opened at $22.97 on Friday. The firm has a market capitalization of $1.19 billion, a PE ratio of -143.56 and a beta of 2.49. The business’s fifty day moving average price is $20.81 and its 200 day moving average price is $19.60. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $24.13.

CareDx (NASDAQ:CDNA) last posted its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. The firm had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.CareDx’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. As a group, equities analysts anticipate that CareDx, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John Walter Hanna, Jr. sold 4,835 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $24.00, for a total value of $116,040.00. Following the completion of the sale, the chief executive officer directly owned 671,640 shares of the company’s stock, valued at $16,119,360. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by company 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.