Ieq Capital LLC Invests $418,000 in CareDx, Inc. $CDNA

Ieq Capital LLC acquired a new position in shares of CareDx, Inc. (NASDAQ:CDNA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,666 shares of the company’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDNA. BlackRock Inc. acquired a new stake in shares of CareDx in the 2nd quarter valued at approximately $137,219,000. Deerfield Management Company L.P. bought a new stake in shares of CareDx during the 3rd quarter valued at approximately $31,857,000. Boston Partners increased its position in CareDx by 2,776.5% during the 4th quarter. Boston Partners now owns 901,929 shares of the company’s stock worth $16,994,000 after purchasing an additional 870,574 shares in the last quarter. Millennium Management LLC lifted its stake in CareDx by 504.0% in the 3rd quarter. Millennium Management LLC now owns 413,689 shares of the company’s stock valued at $6,015,000 after purchasing an additional 345,197 shares during the last quarter. Finally, Palo Alto Investors LP acquired a new stake in CareDx in the third quarter valued at approximately $4,598,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Monday, August 3rd. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research report on Friday, July 31st. Finally, BTIG Research raised their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.75.

CareDx Trading Down 4.9%

Shares of CDNA stock opened at $49.79 on Friday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 24.05 and a beta of 2.39. The stock has a 50-day moving average of $38.41 and a 200-day moving average of $26.44. CareDx, Inc. has a 1-year low of $12.37 and a 1-year high of $53.67.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. The company had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.16) earnings per share. Sell-side analysts forecast that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insider Activity

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the sale, the chief executive officer owned 661,959 shares in the company, valued at $19,355,681.16. This represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the sale, the director directly owned 134,061 shares of the company’s stock, valued at $6,204,343.08. This represents a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,936 shares of company stock worth $3,770,348 in the last three months. Corporate insiders own 2.40% of the company’s stock.

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.