Dynamic Technology Lab Private Ltd Raises Holdings in CareDx, Inc. $CDNA

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in CareDx, Inc. by 67.8% during the first quarter, holding a total of 53,527 shares valued at approximately $950,000.
• Multiple hedge funds also significantly boosted their positions in CareDx, with Invesco Ltd. increasing its stake by 76.1%, now owning over 2.67 million shares valued at about $47.35 million.
• CareDx's recent quarterly earnings missed expectations, reporting an EPS of ($0.16) compared to the consensus estimate of $0.12, with a 6.1% fall in revenue compared to the previous year.

Dynamic Technology Lab Private Ltd grew its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 67.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,527 shares of the company's stock after acquiring an additional 21,627 shares during the quarter. Dynamic Technology Lab Private Ltd owned 0.10% of CareDx worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in CareDx by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 19,624 shares of the company's stock worth $348,000 after acquiring an additional 640 shares during the last quarter. Sei Investments Co. increased its stake in CareDx by 1.7% in the 1st quarter. Sei Investments Co. now owns 47,921 shares of the company's stock worth $851,000 after acquiring an additional 816 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in CareDx by 3.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 23,925 shares of the company's stock worth $425,000 after acquiring an additional 900 shares during the last quarter. US Bancorp DE increased its stake in CareDx by 7.2% in the 1st quarter. US Bancorp DE now owns 18,403 shares of the company's stock worth $327,000 after acquiring an additional 1,235 shares during the last quarter. Finally, CWM LLC increased its stake in CareDx by 23.0% in the 1st quarter. CWM LLC now owns 12,413 shares of the company's stock worth $220,000 after acquiring an additional 2,319 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Hannah Valantine sold 10,570 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total transaction of $202,521.20. Following the completion of the transaction, the director owned 38,994 shares in the company, valued at $747,125.04. The trade was a 21.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Maag sold 10,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the transaction, the director owned 308,846 shares of the company's stock, valued at approximately $5,738,358.68. The trade was a 3.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,570 shares of company stock valued at $580,721. 4.40% of the stock is owned by company insiders.

CareDx Price Performance

Shares of NASDAQ CDNA remained flat at $13.53 during trading hours on Friday. The stock had a trading volume of 859,641 shares, compared to its average volume of 1,425,831. The company has a market capitalization of $720.20 million, a PE ratio of 13.26 and a beta of 2.28. The firm's 50 day moving average is $13.83 and its 200 day moving average is $16.64. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $32.97.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.28). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The business had revenue of $90.51 million for the quarter, compared to analysts' expectations of $90.72 million. During the same quarter in the previous year, the firm earned $0.25 EPS. CareDx's revenue was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CDNA. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. BTIG Research reaffirmed a "buy" rating and issued a $22.00 price objective on shares of CareDx in a research note on Friday. William Blair initiated coverage on CareDx in a research report on Tuesday, August 26th. They set a "market perform" rating on the stock. Craig Hallum cut their target price on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Wells Fargo & Company cut their target price on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, CareDx has an average rating of "Moderate Buy" and a consensus target price of $25.50.

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.