Private Wealth Partners LLC Acquires 225,000 Shares of CareDx, Inc. (CDNA)
Private Wealth Partners LLC raised its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 2,250.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,000 shares of the company’s stock after acquiring an additional 225,000 shares during the period. Private Wealth Partners LLC owned about 0.91% of CareDx worth $869,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CDNA. Royce & Associates LP grew its position in CareDx by 39.3% during the second quarter. Royce & Associates LP now owns 733,287 shares of the company’s stock valued at $814,000 after acquiring an additional 206,815 shares during the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of CareDx by 3,294.9% in the third quarter. Thompson Davis & CO. Inc. now owns 203,692 shares of the company’s stock worth $754,000 after purchasing an additional 197,692 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of CareDx in the second quarter worth approximately $212,000. Perkins Capital Management Inc. bought a new position in shares of CareDx in the third quarter worth approximately $513,000. Finally, Gagnon Securities LLC grew its holdings in shares of CareDx by 2.9% in the second quarter. Gagnon Securities LLC now owns 2,084,292 shares of the company’s stock worth $2,314,000 after purchasing an additional 57,954 shares during the last quarter. Institutional investors and hedge funds own 27.92% of the company’s stock.
Shares of CareDx, Inc. (CDNA) traded up $0.33 during trading on Monday, hitting $5.82. 872,500 shares of the stock traded hands, compared to its average volume of 352,883. CareDx, Inc. has a 1 year low of $0.76 and a 1 year high of $6.69.
CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, November 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. CareDx had a negative net margin of 84.14% and a negative return on equity of 117.32%. The firm had revenue of $12.19 million for the quarter, compared to analysts’ expectations of $12.05 million. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. research analysts forecast that CareDx, Inc. will post -0.89 EPS for the current fiscal year.
Several research analysts have recently issued reports on CDNA shares. Craig Hallum restated a “buy” rating and issued a $10.00 target price (up previously from $4.00) on shares of CareDx in a report on Monday, October 9th. Zacks Investment Research upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Monday, September 4th. Piper Jaffray Companies restated an “overweight” rating and issued a $7.00 target price (up previously from $3.00) on shares of CareDx in a report on Tuesday, September 26th. Raymond James Financial, Inc. upgraded shares of CareDx from a “market perform” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Wednesday, September 27th. Finally, ValuEngine upgraded shares of CareDx from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. CareDx presently has an average rating of “Buy” and a consensus price target of $6.69.
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In other CareDx news, major shareholder Neil Gagnon purchased 21,448 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average price of $2.77 per share, with a total value of $59,410.96. Following the completion of the purchase, the insider now directly owns 903,731 shares of the company’s stock, valued at approximately $2,503,334.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 75,030 shares of company stock valued at $226,758 in the last ninety days. 5.40% of the stock is currently owned by insiders.
CareDx Company Profile
CareDx, Inc is a molecular diagnostics company. The Company is focused on the discovery, development and commercialization of clinically differentiated diagnostic surveillance solutions for transplant patients. The Company’s commercialized testing solution, the AlloMap heart transplant molecular test (AlloMap), is a gene expression test that helps clinicians monitor and identify heart transplant recipients with stable graft function having a low probability of moderate/severe acute cellular rejection.
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