Quantbot Technologies LP Takes $310,000 Position in CareDx, Inc. $CDNA

Quantbot Technologies LP bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA) during the second quarter, HoldingsChannel reports. The institutional investor bought 10,878 shares of the company’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ieq Capital LLC acquired a new stake in CareDx during the 2nd quarter valued at $418,000. Allworth Financial LP acquired a new position in CareDx in the 2nd quarter worth $72,000. Virtus Advisers LLC purchased a new position in CareDx in the 2nd quarter valued at about $1,198,000. Great Lakes Advisors LLC purchased a new position in CareDx in the 2nd quarter valued at about $255,000. Finally, BlackRock Inc. purchased a new position in CareDx in the 2nd quarter valued at about $137,219,000.

CareDx Trading Down 4.9%

CDNA stock opened at $49.79 on Friday. The firm has a market cap of $2.58 billion, a P/E ratio of 24.05 and a beta of 2.39. CareDx, Inc. has a 12-month low of $12.37 and a 12-month high of $53.67. The stock’s 50 day simple moving average is $38.41 and its 200 day simple moving average is $26.44.

CareDx (NASDAQ:CDNA) last announced 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. The firm had revenue of $131.95 million for the quarter, compared to analysts’ expectations of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same period last year, the business posted ($0.16) earnings per share. On average, research analysts forecast that CareDx, Inc. will post 0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of analyst reports. BTIG Research lifted their target price on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research raised CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. HC Wainwright restated a “neutral” rating and set a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Finally, Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.75.

Insider Buying and Selling at CareDx

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the completion of the sale, the chief executive officer owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This represents a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the sale, the director owned 134,061 shares in the company, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,936 shares of company stock valued at $3,770,348 over the last three months. 2.40% of the stock is currently owned by company 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.