GAMMA Investing LLC Buys 43,694 Shares of CareDx, Inc. (NASDAQ:CDNA)

GAMMA Investing LLC raised its stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 1,818.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,097 shares of the company's stock after acquiring an additional 43,694 shares during the period. GAMMA Investing LLC owned approximately 0.08% of CareDx worth $818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock valued at $27,000 after acquiring an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock valued at $84,000 after acquiring an additional 3,322 shares in the last quarter. State of Wyoming acquired a new position in CareDx in the 4th quarter valued at $91,000. Plato Investment Management Ltd raised its holdings in CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after acquiring an additional 1,370 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in 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 acquiring an additional 2,742 shares in the last quarter.

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of the transaction, the director now owns 37,045 shares of the company's stock, valued at $523,445.85. This represents a 31.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $19.24, for a total value of $192,400.00. Following the completion of the transaction, the director now directly owns 318,846 shares of the company's stock, valued at approximately $6,134,597.04. The trade was a 3.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,773 shares of company stock valued at $2,036,290 in the last 90 days. Corporate insiders own 4.40% of the company's stock.

CareDx Stock Performance

Shares of CareDx stock traded up $0.01 during trading on Friday, reaching $19.04. 1,719,282 shares of the company's stock were exchanged, compared to its average volume of 908,674. CareDx, Inc. has a 1-year low of $13.81 and a 1-year high of $34.84. The company has a market cap of $1.06 billion, a P/E ratio of 16.56 and a beta of 2.18. The firm's 50-day moving average price is $17.57 and its 200 day moving average price is $20.03.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The company had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. CareDx's revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts predict that CareDx, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

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

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.