Hussman Strategic Advisors Inc. Makes New Investment in CareDx, Inc. (NASDAQ:CDNA)

Hussman Strategic Advisors Inc. bought a new stake in CareDx, Inc. (NASDAQ:CDNA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of CareDx during the first quarter valued at approximately $375,000. Swiss National Bank boosted its position in shares of CareDx by 1.9% during the 4th quarter. Swiss National Bank now owns 98,600 shares of the company's stock valued at $2,111,000 after acquiring an additional 1,800 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of CareDx during the 4th quarter valued at about $208,000. Nuveen Asset Management LLC boosted its position in shares of CareDx by 15.5% during the 4th quarter. Nuveen Asset Management LLC now owns 448,113 shares of the company's stock valued at $9,594,000 after acquiring an additional 60,050 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of CareDx during the 4th quarter valued at about $3,694,000.

Wall Street Analysts Forecast Growth

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

CareDx Stock Up 9.2%

CDNA traded up $1.10 during trading on Monday, hitting $13.02. The company's stock had a trading volume of 1,979,691 shares, compared to its average volume of 1,017,362. The firm's 50 day moving average price is $18.23 and its two-hundred day moving average price is $19.51. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $34.84. The stock has a market capitalization of $724.73 million, a price-to-earnings ratio of 11.21 and a beta of 2.19.

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

Insider Transactions at CareDx

In related news, Director Hannah Valantine sold 10,570 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $19.16, for a total value of $202,521.20. Following the completion of the sale, the director owned 38,994 shares in the company, valued at approximately $747,125.04. This represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter Maag sold 10,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the completion of the sale, the director owned 308,846 shares of the company's stock, valued at $5,738,358.68. This represents a 3.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 139,078 shares of company stock worth $2,419,915. Insiders own 4.40% of the company's stock.

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.