PDT Partners LLC Takes Position in CareDx, Inc. $CDNA

Key Points

• PDT Partners LLC acquired a stake of 70,097 shares in CareDx, Inc. for approximately $1.24 million, reflecting a 0.13% ownership as of its latest SEC filing.
• CareDx's stock recently opened at $12.73 with a market cap of $677.62 million, while its earnings report showed a loss of ($0.16) EPS, missing analysts' expectations.
• Several analysts downgraded CareDx's stock ratings recently, with Wells Fargo lowering its price target from $19.00 to $14.00, indicating a more cautious outlook.

PDT Partners LLC acquired a new stake in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 70,097 shares of the company's stock, valued at approximately $1,244,000. PDT Partners LLC owned approximately 0.13% of CareDx as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in CareDx by 20,200.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,466 shares of the company's stock worth $79,000 after purchasing an additional 4,444 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of CareDx by 553.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after buying an additional 3,322 shares in the last quarter. State of Wyoming purchased a new stake in shares of CareDx during the fourth quarter valued at approximately $91,000. Morse Asset Management Inc bought a new stake in shares of CareDx during the first quarter valued at approximately $103,000. Finally, Balance Wealth LLC purchased a new position in CareDx in the 1st quarter worth approximately $189,000.

CareDx Stock Performance

CDNA stock opened at $12.73 on Thursday. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $32.97. The business's 50-day moving average is $14.65 and its two-hundred day moving average is $17.17. The company has a market cap of $677.62 million, a price-to-earnings ratio of 12.48 and a beta of 2.28.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results 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). CareDx had a net margin of 17.97% and a return on equity of 18.03%. The firm had revenue of $90.51 million during the quarter, compared to the consensus estimate of $90.72 million. During the same period in the prior year, the company posted $0.25 EPS. The firm's revenue was down 6.1% compared to the same quarter last year. Equities analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on CDNA shares. William Blair started coverage on CareDx in a research note on Tuesday, August 26th. They set a "market perform" rating on the stock. Wall Street Zen downgraded CareDx from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Wells Fargo & Company lowered their price target on CareDx from $19.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Finally, Craig Hallum lowered their price target on CareDx from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, CareDx presently has an average rating of "Moderate Buy" and a consensus price target of $27.67.

Insider Buying and Selling at CareDx

In other CareDx news, Director William A. Hagstrom sold 19,391 shares of the 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 transaction, the director owned 53,979 shares of the company's stock, valued at approximately $1,074,182.10. This represents a 26.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Maag sold 10,000 shares of the 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 directly owned 308,846 shares in the company, 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. Over the last 90 days, insiders have sold 49,961 shares of company stock valued at $966,602. 4.40% of the stock is owned by company insiders.

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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