Virtus Advisers LLC Makes New $1.20 Million Investment in CareDx, Inc. $CDNA

Virtus Advisers LLC purchased a new stake in shares of CareDx, Inc. (NASDAQ:CDNA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 42,046 shares of the company’s stock, valued at approximately $1,198,000.

A number of other hedge funds have also modified their holdings of CDNA. Great Lakes Advisors LLC acquired a new position in CareDx in the second quarter valued at approximately $255,000. BlackRock Inc. acquired a new stake in shares of CareDx during the 2nd quarter worth approximately $137,219,000. Deutsche Bank AG purchased a new position in shares of CareDx during the 2nd quarter valued at approximately $1,547,000. Bank of New York Mellon Corp acquired a new position in shares of CareDx in the 2nd quarter valued at $4,874,000. Finally, State of Wyoming acquired a new position in shares of CareDx in the 2nd quarter valued at $227,000.

Insider Activity at CareDx

In other 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. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the company’s 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 transaction, the director owned 134,061 shares of the company’s stock, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 114,936 shares of company stock valued at $3,770,348. 2.40% of the stock is currently owned by company insiders.

CareDx Price Performance

Shares of CDNA stock opened at $46.99 on Friday. CareDx, Inc. has a 1-year low of $11.88 and a 1-year high of $49.76. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 22.70 and a beta of 2.39. The stock has a 50 day simple moving average of $35.33 and a 200-day simple moving average of $25.20.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 24.23% and a return on equity of 2.87%. The firm’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) EPS. Analysts anticipate that CareDx, Inc. will post 0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.