Gagnon Advisors LLC Purchases 75,251 Shares of CareDx, Inc. $CDNA

Gagnon Advisors LLC lifted its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 529,414 shares of the company’s stock after acquiring an additional 75,251 shares during the period. CareDx accounts for approximately 4.8% of Gagnon Advisors LLC’s portfolio, making the stock its 8th biggest holding. Gagnon Advisors LLC’s holdings in CareDx were worth $7,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Gagnon Securities LLC increased its position in CareDx by 11.7% in the 3rd quarter. Gagnon Securities LLC now owns 1,729,425 shares of the company’s stock valued at $25,146,000 after acquiring an additional 180,513 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of CareDx by 40.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,740,064 shares of the company’s stock worth $25,301,000 after purchasing an additional 503,136 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of CareDx during the third quarter valued at $43,000. SG Americas Securities LLC bought a new stake in shares of CareDx during the third quarter valued at about $201,000. Finally, ARS Investment Partners LLC lifted its holdings in CareDx by 10.6% in the third quarter. ARS Investment Partners LLC now owns 106,055 shares of the company’s stock worth $1,542,000 after purchasing an additional 10,170 shares during the period.

CareDx Stock Up 1.7%

CDNA opened at $20.80 on Friday. The firm has a market cap of $1.07 billion, a PE ratio of 17.48 and a beta of 2.49. The business has a fifty day simple moving average of $19.32 and a 200-day simple moving average of $15.94. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $25.55.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The company had revenue of $100.06 million for the quarter, compared to analyst estimates of $95.25 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. CareDx’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of CareDx from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. BTIG Research boosted their target price on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 29th. Finally, Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.67.

Insider Transactions at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 29,636 shares of company stock worth $625,949. 4.40% of the stock is currently owned by insiders.

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.