Corient Private Wealth LP Buys New Shares in CareDx, Inc. $CDNA

Corient Private Wealth LP purchased a new position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,957 shares of the company's stock, valued at approximately $654,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of CareDx during the fourth quarter worth about $25,000. Allworth Financial LP purchased a new stake in shares of CareDx during the 2nd quarter valued at about $72,000. Meeder Asset Management Inc. purchased a new stake in shares of CareDx during the 4th quarter valued at about $79,000. Quantbot Technologies LP acquired a new position in CareDx during the 3rd quarter worth approximately $89,000. Finally, Tower Research Capital LLC TRC boosted its holdings in CareDx by 120.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company's stock worth $149,000 after acquiring an additional 4,160 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on CDNA. BTIG Research lifted their price objective on shares of CareDx from $45.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. William Blair upgraded shares of CareDx to a "hold" rating in a research note on Thursday, July 16th. Zacks Research raised shares of CareDx from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. HC Wainwright reiterated a "neutral" rating and issued a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. Finally, Canaccord Genuity Group started coverage on shares of CareDx in a research report on Wednesday. They issued a "buy" rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.20.

Insider Transactions at CareDx

In other news, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $46.94, for a total transaction of $751,040.00. Following the completion of the sale, the director owned 42,943 shares in the company, valued at approximately $2,015,744.42. This represents a 27.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the transaction, the director owned 36,686 shares of the company's stock, valued at approximately $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 110,101 shares of company stock valued at $3,654,308. 2.40% of the stock is currently owned by company insiders.

CareDx Price Performance

NASDAQ:CDNA opened at $50.88 on Monday. The company has a market cap of $2.63 billion, a PE ratio of 24.58 and a beta of 2.43. The business's 50 day moving average is $40.72 and its two-hundred day moving average is $27.54. CareDx, Inc. has a 52 week low of $13.12 and a 52 week high of $53.67.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The company had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. CareDx's quarterly revenue was up 52.2% compared to the same quarter last year. As a group, sell-side analysts expect that CareDx, Inc. will post 0.47 EPS for the current fiscal year.

CareDx Company Profile

CareDx, Inc NASDAQ: CDNA is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company's core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.

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