Hanseatic Management Services Inc. Makes New Investment in CareDx, Inc. $CDNA

Key Points

• Hanseatic Management Services initiated a CareDx position by purchasing 21,960 shares worth approximately $1.43 million in the third quarter. Several other institutional investors also increased or established stakes in the company.
• CareDx reported stronger-than-expected 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 remains mixed: Canaccord Genuity and BTIG raised their price targets to $80 and $81, respectively, while the overall consensus rating is Hold with a $58.40 price target. Two directors also sold shares under a Rule 10b5-1 trading plan.

Hanseatic Management Services Inc. bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,960 shares of the company's stock, valued at approximately $1,427,000.

Several other institutional investors also recently bought and sold shares of CDNA. GAMMA Investing LLC boosted its stake in shares of CareDx by 10.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,660 shares of the company's stock worth $173,000 after acquiring an additional 259 shares in the last quarter. Reyes Financial Architecture Inc. acquired a new stake in CareDx in the 3rd quarter worth approximately $50,000. Signaturefd LLC bought a new stake in CareDx during the third quarter worth approximately $51,000. Nykredit A S bought a new stake in CareDx during the second quarter worth approximately $25,000. Finally, IFP Advisors Inc grew its holdings in CareDx by 1,158.0% during the third quarter. IFP Advisors Inc now owns 1,107 shares of the company's stock valued at $72,000 after purchasing an additional 1,019 shares during the last quarter.

Insider Buying and Selling at CareDx

In other CareDx news, Director George Bickerstaff, III sold 20,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total value of $925,600.00. Following the completion of the sale, the director directly owned 134,061 shares of the company's stock, valued at $6,204,343.08. This represents a 12.98% 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 Christine Cournoyer sold 16,000 shares of the firm's 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 $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.

CareDx Stock Up 2.3%

Shares of NASDAQ:CDNA opened at $72.13 on Thursday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 34.85 and a beta of 2.38. The business has a 50 day moving average price of $58.62 and a 200 day moving average price of $33.03. CareDx, Inc. has a twelve month low of $14.23 and a twelve month high of $73.43.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.23 by $0.14. The company had revenue of $131.95 million for the quarter, compared to the consensus estimate of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%. The company's revenue for the quarter was up 52.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) EPS. Analysts anticipate that CareDx, Inc. will post 0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CDNA shares. Canaccord Genuity Group boosted their price objective on shares of CareDx from $65.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, October 19th. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 price objective on shares of CareDx in a report on Friday, July 31st. Weiss Ratings upgraded shares of CareDx from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Zacks Research downgraded shares of CareDx from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Finally, BTIG Research boosted their target price on shares of CareDx from $74.00 to $81.00 and gave the stock a "buy" rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, CareDx has a consensus rating of "Hold" and a consensus price target of $58.40.

CareDx Company Profile

CareDx, Inc is a healthcare diagnostics company focused on improving the care of organ-transplant patients. The company develops and commercializes noninvasive tests and digital tools intended to help physicians assess transplant-organ health, identify potential rejection, and support long-term patient management.

Its offerings include AlloSure donor-derived cell-free DNA tests for monitoring transplant recipients, AlloMap gene-expression testing for heart-transplant patients, and HeartCare, which combines AlloMap and AlloSure results.

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