Divisadero Street Capital Management LP Makes New $15.24 Million Investment in CareDx, Inc (NASDAQ:CDNA)

Divisadero Street Capital Management LP bought a new position in CareDx, Inc (NASDAQ:CDNA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 711,761 shares of the company's stock, valued at approximately $15,239,000. CareDx comprises approximately 1.8% of Divisadero Street Capital Management LP's portfolio, making the stock its 16th biggest holding. Divisadero Street Capital Management LP owned 1.33% of CareDx at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CDNA. Sterling Capital Management LLC increased its position in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after purchasing an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of CareDx by 553.7% during 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 in the last quarter. Plato Investment Management Ltd raised its stake 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 in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock worth $200,000 after acquiring an additional 2,742 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of CareDx in the 4th quarter valued at $208,000.

Wall Street Analyst Weigh In

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

Insider Activity

In other CareDx news, Director Peter Maag sold 13,281 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total value of $228,831.63. Following the sale, the director now directly owns 316,743 shares of the company's stock, valued at approximately $5,457,481.89. The trade was a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine Cournoyer sold 16,700 shares of the firm's stock in a transaction 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 transaction, the director now owns 37,045 shares of the company's stock, valued at $523,445.85. The trade was a 31.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,246 shares of company stock worth $469,498. Corporate insiders own 4.90% of the company's stock.

CareDx Stock Up 0.2 %

Shares of NASDAQ:CDNA traded up $0.03 on Friday, hitting $15.42. The company had a trading volume of 1,675,008 shares, compared to its average volume of 876,817. CareDx, Inc has a 1 year low of $12.53 and a 1 year high of $34.84. The firm's 50-day simple moving average is $17.87 and its two-hundred day simple moving average is $21.16. The firm has a market capitalization of $858.60 million, a price-to-earnings ratio of -5.71 and a beta of 2.27.

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

CareDx Company Profile

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.