Hanseatic Management Services Inc. Makes New $1.43 Million Investment in CareDx, Inc. $CDNA

Hanseatic Management Services Inc. bought a new stake in CareDx, Inc. (NASDAQ:CDNA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,960 shares of the company’s stock, valued at approximately $1,427,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in CareDx during the second quarter worth $137,219,000. Bamco Inc. NY acquired a new position in shares of CareDx in the 2nd quarter valued at $55,214,000. Bank of America Corp DE acquired a new position in shares of CareDx in the 2nd quarter valued at $16,297,000. Palo Alto Investors LP bought a new position in shares of CareDx during the 2nd quarter worth about $15,158,295. Finally, Jupiter Topco LLC bought a new position in shares of CareDx during the 2nd quarter worth about $9,673,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of CareDx from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, October 19th. BTIG Research raised their price target on shares of CareDx from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings upgraded shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research downgraded CareDx from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, William Blair upgraded CareDx to a “hold” rating in a research note on Thursday, July 16th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.40.

CareDx Stock Performance

Shares of NASDAQ CDNA opened at $72.13 on Thursday. The stock has a market cap of $3.73 billion, a PE ratio of 34.85 and a beta of 2.38. The business has a fifty day moving average of $58.62 and a two-hundred day moving average of $33.03. CareDx, Inc. has a 52-week low of $14.23 and a 52-week high of $73.43.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.14. The business 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%. The firm’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) EPS. Analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insider Activity

In other CareDx news, Director George Bickerstaff, III sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the transaction, the director directly owned 134,061 shares in the company, valued at $6,204,343.08. The trade was a 12.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine Cournoyer sold 16,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the transaction, the director owned 42,943 shares in the company, valued at approximately $2,015,744.42. This trade represents a 27.14% 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. Company insiders own 2.40% of the company’s stock.

CareDx Company Profile

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.