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

Tang Capital Management LLC purchased a new stake in CareDx, Inc (NASDAQ:CDNA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 100,000 shares of the company's stock, valued at approximately $2,141,000. Tang Capital Management LLC owned 0.19% of CareDx at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Sterling Capital Management LLC raised its position in 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 acquiring an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of 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 purchasing an additional 3,322 shares during the period. Plato Investment Management Ltd grew its stake in shares of CareDx by 34.1% during the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock worth $116,000 after purchasing an additional 1,370 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased 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 valued at $200,000 after purchasing an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of CareDx in the fourth quarter valued at about $208,000.

Insider Transactions at CareDx

In other CareDx news, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the sale, the director now directly owns 37,045 shares of the company's stock, valued at $591,238.20. This trade represents a 44.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Maag sold 13,281 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the transaction, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,382 shares of company stock valued at $934,509 over the last three months. 4.90% of the stock is currently owned by insiders.

CareDx Price Performance

CDNA traded down $0.18 during midday trading on Friday, reaching $16.93. 306,212 shares of the company's stock were exchanged, compared to its average volume of 892,378. CareDx, Inc has a 1-year low of $12.90 and a 1-year high of $34.84. The stock has a market capitalization of $942.68 million, a PE ratio of -6.27 and a beta of 2.27. The business's 50-day moving average price is $17.52 and its 200 day moving average price is $20.79.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) 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 firm had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. During the same period in the previous year, the firm posted ($0.03) EPS. The company's quarterly revenue was up 17.6% compared to the same quarter last year. As a group, analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. The Goldman Sachs Group decreased their price target on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. HC Wainwright reaffirmed a "neutral" rating and issued a $25.00 price objective on shares of CareDx in a research note on Monday, May 5th. Finally, Stephens reaffirmed an "overweight" rating and set a $40.00 price objective on shares of CareDx in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.33.

CareDx 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.