Gagnon Securities LLC Purchases 127,223 Shares of CareDx, Inc. $CDNA

Key Points

• Gagnon Securities LLC increased its holdings in CareDx, Inc. by 8.9%, acquiring an additional 127,223 shares, bringing its total ownership to 1,548,912 shares.
• CareDx currently has an average analyst rating of "Hold" with a consensus price target of $25.50, though ratings range from "Buy" to "Sell" among different analysts.
• Despite strong interest from institutional investors, CareDx's stock has dropped 1.9% recently, with current trading at $14.67, reflecting a market capitalization of $780.88 million.

Gagnon Securities LLC boosted its position in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,548,912 shares of the company's stock after buying an additional 127,223 shares during the quarter. CareDx makes up about 6.1% of Gagnon Securities LLC's holdings, making the stock its 3rd biggest position. Gagnon Securities LLC owned about 2.78% of CareDx worth $30,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new stake in CareDx in the 1st quarter worth $375,000. Acadian Asset Management LLC grew its position in CareDx by 6.1% in the 1st quarter. Acadian Asset Management LLC now owns 359,303 shares of the company's stock worth $6,373,000 after purchasing an additional 20,806 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in CareDx by 67.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 53,527 shares of the company's stock worth $950,000 after purchasing an additional 21,627 shares during the last quarter. US Bancorp DE grew its position 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 purchasing an additional 1,235 shares during the last quarter. Finally, Strs Ohio acquired a new stake in CareDx in the 1st quarter worth $462,000.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BTIG Research restated a "buy" rating and issued a $22.00 price target on shares of CareDx in a research report on Tuesday, September 23rd. Craig Hallum reduced their price objective on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a report on Friday, July 18th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CareDx in a report on Saturday, September 27th. Wall Street Zen raised shares of CareDx from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Wells Fargo & Company reduced their price objective on shares of CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CareDx currently has an average rating of "Hold" and a consensus price target of $25.50.

CareDx Stock Down 1.9%

Shares of CDNA stock opened at $14.67 on Wednesday. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $32.65. The company has a market capitalization of $780.88 million, a P/E ratio of 14.38 and a beta of 2.37. The firm has a 50-day moving average price of $13.45 and a 200 day moving average price of $16.13.

CareDx (NASDAQ:CDNA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.28). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The firm had revenue of $90.51 million for the quarter, compared to the consensus estimate of $90.72 million. During the same period in the prior year, the business earned $0.25 earnings per share. The company's revenue for the quarter was down 6.1% on a year-over-year basis. As a group, research analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current year.

CareDx Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.