Hussman Strategic Advisors Inc. Invests $2.24 Million in CareDx, Inc. (NASDAQ:CDNA)

Hussman Strategic Advisors Inc. purchased a new position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 126,000 shares of the company's stock, valued at approximately $2,236,000. Hussman Strategic Advisors Inc. owned about 0.23% of CareDx as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after purchasing an additional 323,554 shares during the period. Bamco Inc. NY boosted its holdings in CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after purchasing an additional 330,627 shares during the period. Fred Alger Management LLC boosted its holdings in CareDx by 7.3% in the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock valued at $34,556,000 after purchasing an additional 110,471 shares during the period. Invesco Ltd. raised its position in shares of CareDx by 3.5% during the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock valued at $32,433,000 after buying an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of CareDx by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock valued at $30,663,000 after buying an additional 196,298 shares in the last quarter.

CareDx Stock Performance

Shares of NASDAQ CDNA traded up $0.10 during midday trading on Friday, reaching $11.91. The stock had a trading volume of 5,721,967 shares, compared to its average volume of 1,010,679. The stock has a 50-day moving average of $18.23 and a 200-day moving average of $19.53. The company has a market capitalization of $663.16 million, a price-to-earnings ratio of 10.36 and a beta of 2.19. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $34.84.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on CDNA shares. Stephens restated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Craig Hallum decreased their target price on shares of CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.33.

Insider Activity at CareDx

In other CareDx news, Director William A. Hagstrom sold 30,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the transaction, the director directly owned 53,979 shares of the company's stock, valued at $941,933.55. This trade represents a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christine Cournoyer sold 29,136 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the completion of the transaction, the director directly owned 37,045 shares in the company, valued at approximately $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,078 shares of company stock worth $2,419,915. 4.40% of the stock is owned by company insiders.

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.