Tang Capital Management LLC Invests $2.14 Million in CareDx, Inc (NASDAQ:CDNA)

Tang Capital Management LLC acquired a new position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $2,141,000. Tang Capital Management LLC owned 0.19% of CareDx as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CDNA. Sterling Capital Management LLC grew its stake in shares of CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after buying an additional 1,126 shares during the period. Tower Research Capital LLC TRC raised its stake in CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after buying an additional 3,322 shares during the period. Plato Investment Management Ltd boosted its holdings in CareDx by 34.1% in 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 boosted its holdings in 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 acquiring an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in CareDx in the fourth quarter worth approximately $208,000.

Insider Transactions at CareDx

In other news, Director Christine Cournoyer sold 29,136 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.96, for a total value of $465,010.56. Following the completion of the transaction, the director now owns 37,045 shares of the company's stock, valued at $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter Maag sold 13,281 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 316,743 shares in the company, valued at approximately $5,457,481.89. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,382 shares of company stock worth $934,509 in the last three months. Corporate insiders own 4.90% of the company's stock.

CareDx Stock Down 3.9%

Shares of NASDAQ:CDNA traded down $0.69 on Wednesday, hitting $17.05. 1,147,267 shares of the company traded hands, compared to its average volume of 892,990. CareDx, Inc has a 52 week low of $12.90 and a 52 week high of $34.84. The stock has a 50 day simple moving average of $17.56 and a 200-day simple moving average of $20.83. The company has a market cap of $949.36 million, a PE ratio of -6.31 and a beta of 2.27.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com downgraded CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Stephens reaffirmed an "overweight" rating and set a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. HC Wainwright reissued a "neutral" rating and issued a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.