Braidwell LP Has $34.79 Million Holdings in CareDx, Inc. $CDNA

Braidwell LP decreased its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 43.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,220,602 shares of the company’s stock after selling 952,544 shares during the quarter. CareDx accounts for approximately 1.3% of Braidwell LP’s investment portfolio, making the stock its 28th largest position. Braidwell LP owned 2.36% of CareDx worth $34,787,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nykredit A S bought a new position in CareDx in the 2nd quarter valued at about $25,000. Quarry LP bought a new stake in shares of CareDx during the 4th quarter worth approximately $25,000. Allworth Financial LP bought a new stake in shares of CareDx during the 2nd quarter worth approximately $72,000. Meeder Asset Management Inc. bought a new stake in shares of CareDx during the 4th quarter worth approximately $79,000. Finally, Quantbot Technologies LP acquired a new stake in shares of CareDx during the 3rd quarter worth approximately $89,000.

CareDx Price Performance

Shares of CareDx stock opened at $49.60 on Thursday. The company’s 50 day moving average price is $39.84 and its two-hundred day moving average price is $27.11. The firm has a market capitalization of $2.57 billion, a P/E ratio of 23.96 and a beta of 2.43. CareDx, Inc. has a fifty-two week low of $12.37 and a fifty-two week high of $53.67.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results 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. CareDx had a net margin of 24.23% and a return on equity of 2.87%. The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period in the prior year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. On average, analysts expect that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insider Transactions at CareDx

In other news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the sale, the director directly owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the sale, the chief executive officer owned 661,959 shares in the company, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 110,101 shares of company stock worth $3,654,308 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CDNA shares. HC Wainwright reissued a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research note on Friday, July 31st. Canaccord Genuity Group started coverage on CareDx in a research note on Wednesday. They set a “buy” rating and a $65.00 target price for the company. William Blair raised CareDx to a “hold” rating in a report on Thursday, July 16th. Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, August 3rd. Finally, Zacks Research raised CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

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.