GSA Capital Partners LLP Purchases New Holdings in CareDx, Inc. $CDNA

Key Points

• GSA Capital Partners initiated a CareDx position of 25,440 shares valued at approximately $725,000, while several other institutional investors also added to or opened stakes.
• CareDx reported strong quarterly results, with EPS of $0.37 versus the $0.23 consensus estimate and revenue of $131.95 million, up 52.2% year over year.
• Analyst sentiment improved, with multiple firms upgrading the stock or raising price targets; CareDx has a consensus rating of “Moderate Buy” and an average target of $47.75.

GSA Capital Partners LLP purchased a new stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,440 shares of the company's stock, valued at approximately $725,000.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of CareDx in the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in CareDx during the fourth quarter worth $79,000. Quantbot Technologies LP acquired a new position in CareDx during the third quarter worth $89,000. CWM LLC raised its position in CareDx by 119.1% during the fourth quarter. CWM LLC now owns 7,407 shares of the company's stock worth $140,000 after acquiring an additional 4,026 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in CareDx by 120.6% during the second 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 in the last quarter.

CareDx Trading Up 0.7%

CareDx stock opened at $46.51 on Thursday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 22.47 and a beta of 2.39. CareDx, Inc. has a 12 month low of $11.27 and a 12 month high of $49.76. The stock's 50 day moving average is $34.87 and its 200-day moving average is $25.01.

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

Insider Buying and Selling

In other news, Director Hannah Valantine sold 12,103 shares of the company's stock in a transaction on 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 sale, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. This represents a 24.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $29.24, for a total value of $1,166,676.00. Following the sale, the chief executive officer directly owned 661,959 shares in the company, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 114,936 shares of company stock valued at $3,770,348. 2.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CDNA has been the subject of a number of analyst reports. 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 report on Thursday, August 6th. Craig Hallum raised shares of CareDx from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a report on Monday, August 3rd. William Blair upgraded shares of CareDx to a "hold" rating in a research note on Thursday, July 16th. Zacks Research upgraded CareDx from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised CareDx from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, CareDx has a consensus rating of "Moderate Buy" and an average price target of $47.75.

CareDx 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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