Castleark Management LLC Purchases 58,300 Shares of CareDx, Inc (NASDAQ:CDNA)

Castleark Management LLC grew its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 41.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,180 shares of the company's stock after buying an additional 58,300 shares during the quarter. Castleark Management LLC owned 0.37% of CareDx worth $4,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of CareDx by 7.1% in the 4th 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 in the last quarter. Bamco Inc. NY raised its position in shares of 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 in the last quarter. Fred Alger Management LLC raised its position in shares of 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 buying an additional 110,471 shares in the last quarter. Invesco Ltd. raised its position in shares of 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 buying an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of CareDx by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock valued at $30,663,000 after buying an additional 196,298 shares in the last quarter.

CareDx Trading Down 0.9%

CDNA traded down $0.16 during trading on Friday, reaching $16.95. 982,264 shares of the company's stock were exchanged, compared to its average volume of 894,949. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The stock has a market capitalization of $943.79 million, a PE ratio of -6.28 and a beta of 2.27. The firm has a fifty day moving average price of $17.48 and a two-hundred day moving average price of $20.73.

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

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 29,136 shares of the business's stock in a transaction that occurred on 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. The trade was a 44.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 13,281 shares of the company's stock in a transaction 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 completion of the sale, 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 have sold 59,382 shares of company stock valued at $934,509 in the last ninety days. 4.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Stephens reiterated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. Finally, HC Wainwright reiterated a "neutral" rating and set a $25.00 price objective on shares of CareDx in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CareDx presently has a consensus 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.