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

Quantbot Technologies LP bought a new stake in CareDx, Inc. (NASDAQ:CDNA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,878 shares of the company’s stock, valued at approximately $310,000.

Several other large investors have also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in CareDx in the 4th quarter valued at about $25,000. Allworth Financial LP acquired a new position in shares of CareDx during the 2nd quarter valued at about $72,000. Meeder Asset Management Inc. purchased a new position in shares of CareDx during the 4th quarter worth about $79,000. CWM LLC lifted its holdings in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after acquiring an additional 4,026 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after acquiring an additional 4,160 shares during the last quarter.

CareDx Stock Performance

CDNA opened at $49.79 on Friday. The firm has a 50 day moving average price of $38.41 and a 200 day moving average price of $26.44. The company has a market cap of $2.58 billion, a PE ratio of 24.05 and a beta of 2.39. 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 results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.23 by $0.14. The firm had revenue of $131.95 million for the quarter, compared to analyst estimates of $114.05 million. CareDx had a net margin of 24.23% and a return on equity of 2.87%. CareDx’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) earnings per share. On average, sell-side analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at CareDx

In other news, Director Christine Cournoyer sold 16,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the transaction, the director owned 42,943 shares of the company’s stock, valued at approximately $2,015,744.42. This trade represents a 27.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction on 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 transaction, the chief executive officer owned 661,959 shares in the company, valued at $19,355,681.16. The trade was a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 114,936 shares of company stock worth $3,770,348. 2.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BTIG Research upped their price target on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, August 3rd. Weiss Ratings raised shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.75.

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.