Bamco Inc. NY Acquires 330,627 Shares of CareDx, Inc (NASDAQ:CDNA)

Bamco Inc. NY increased its holdings in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,207,299 shares of the company's stock after purchasing an additional 330,627 shares during the period. Bamco Inc. NY owned 4.12% of CareDx worth $47,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in shares of CareDx by 771.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after buying an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after acquiring an additional 3,322 shares during the last quarter. Plato Investment Management Ltd grew its position in shares of CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after acquiring an additional 1,370 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of CareDx by 41.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after purchasing an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of CareDx in the fourth quarter valued at approximately $208,000.

Insider Activity

In other CareDx news, Director Peter Maag sold 13,281 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. This represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Cournoyer sold 16,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 30,246 shares of company stock valued at $469,498. Insiders own 4.90% of the company's stock.

CareDx Stock Up 0.2 %

Shares of NASDAQ:CDNA traded up $0.03 during trading on Friday, reaching $15.42. 1,675,008 shares of the company traded hands, compared to its average volume of 870,319. The firm has a fifty day simple moving average of $17.87 and a 200 day simple moving average of $21.14. CareDx, Inc has a 1-year low of $12.90 and a 1-year high of $34.84. The firm has a market cap of $858.60 million, a P/E ratio of -5.71 and a beta of 2.27.

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

Analysts Set New Price Targets

CDNA has been the subject of a number of research reports. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 price target on shares of CareDx in a research note on Monday, May 5th. Wells Fargo & Company raised CareDx from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $28.00 to $24.00 in a report on Wednesday, January 15th. Stephens reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of CareDx in a research note on Monday, May 5th. The Goldman Sachs Group reduced their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, StockNews.com downgraded CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.33.

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.