Panoramic Capital LLC Acquires Shares of 78,061 CareDx, Inc (NASDAQ:CDNA)

Panoramic Capital LLC purchased a new position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 78,061 shares of the company's stock, valued at approximately $1,671,000. CareDx comprises 0.9% of Panoramic Capital LLC's investment portfolio, making the stock its 26th largest holding. Panoramic Capital LLC owned about 0.15% of CareDx as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in CareDx by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after buying an additional 323,554 shares during the period. Bamco Inc. NY raised its position in CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after buying an additional 330,627 shares during the last quarter. Fred Alger Management LLC grew its stake in CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock valued at $34,556,000 after purchasing an additional 110,471 shares during the period. Invesco Ltd. grew its stake in CareDx by 3.5% in the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock valued at $32,433,000 after purchasing an additional 51,160 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of CareDx by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock worth $30,663,000 after acquiring an additional 196,298 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CDNA shares. HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 price target on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. StockNews.com cut CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens restated an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

Insider Buying and Selling at CareDx

In other news, Director Christine Cournoyer sold 16,700 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total transaction of $235,971.00. Following the sale, the director now directly owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the completion of the sale, the director now owns 316,743 shares in the company, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,382 shares of company stock worth $934,509. Insiders own 4.90% of the company's stock.

CareDx Stock Up 8.9%

Shares of CareDx stock traded up $1.44 during trading on Friday, reaching $17.54. The company's stock had a trading volume of 2,463,994 shares, compared to its average volume of 885,780. The company has a market cap of $976.64 million, a price-to-earnings ratio of -6.50 and a beta of 2.27. CareDx, Inc has a 1-year low of $12.90 and a 1-year high of $34.84. The company has a 50-day simple moving average of $17.62 and a two-hundred day simple moving average of $20.92.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $84.69 million during the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. As a group, analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current year.

About CareDx

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.