Next Century Growth Investors LLC Acquires 55,127 Shares of CareDx, Inc. $CDNA

Key Points

• Next Century Growth Investors LLC increased its stake in CareDx, Inc. by 25.1% during the first quarter, acquiring an additional 55,127 shares and now owning approximately 0.49% of the company valued at $4.87 million.
• CareDx reported a net loss of ($0.16) per share for the last quarter, missing analysts' expectations and showing a 6.1% decline in revenue year-over-year.
• Several analysts have **lowered their price targets** for CareDx, with an average target of $27.67, indicating a mix of ratings with four analysts suggesting a buy and three holding ratings.

Next Century Growth Investors LLC grew its holdings in CareDx, Inc. (NASDAQ:CDNA - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 274,874 shares of the company's stock after purchasing an additional 55,127 shares during the quarter. Next Century Growth Investors LLC owned approximately 0.49% of CareDx worth $4,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in CareDx by 20,200.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock valued at $79,000 after acquiring an additional 4,444 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in CareDx by 553.7% during 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 bought a new stake in CareDx during the 4th quarter valued at $91,000. Morse Asset Management Inc bought a new stake in CareDx during the 1st quarter valued at $103,000. Finally, Balance Wealth LLC bought a new stake in CareDx during the 1st quarter valued at $189,000.

CareDx Stock Performance

Shares of CDNA opened at $13.29 on Thursday. The stock has a 50-day moving average of $15.21 and a two-hundred day moving average of $17.54. The stock has a market cap of $707.43 million, a P/E ratio of 13.03 and a beta of 2.22. CareDx, Inc. has a one year low of $10.96 and a one year high of $32.97.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.28). The company had revenue of $90.51 million for the quarter, compared to analysts' expectations of $90.72 million. CareDx had a net margin of 17.97% and a return on equity of 18.03%. The business's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. Analysts predict that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at CareDx

In related news, Director William A. Hagstrom sold 19,391 shares of CareDx stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $19.90, for a total value of $385,880.90. Following the completion of the transaction, the director owned 53,979 shares in the company, valued at $1,074,182.10. The trade was a 26.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Maag sold 10,000 shares of CareDx 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 transaction, the director owned 308,846 shares of the company's stock, valued at approximately $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 quarter, insiders sold 49,961 shares of company stock worth $966,602. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on CDNA shares. Stephens reaffirmed an "overweight" rating and set a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. HC Wainwright reaffirmed a "neutral" rating and set a $25.00 target price on shares of CareDx in a research report on Monday, May 5th. Wall Street Zen cut CareDx from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Wells Fargo & Company lowered their price objective on CareDx from $19.00 to $14.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Finally, William Blair assumed coverage on CareDx in a research report on Tuesday. They issued a "market perform" rating for the company. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, CareDx has an average rating of "Moderate Buy" and an average price target of $27.67.

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.

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