Point72 Asset Management L.P. Grows Holdings in CareDx, Inc (NASDAQ:CDNA)

Point72 Asset Management L.P. lifted its holdings in CareDx, Inc (NASDAQ:CDNA - Free Report) by 81.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 465,665 shares of the company's stock after purchasing an additional 209,085 shares during the period. Point72 Asset Management L.P. owned approximately 0.87% of CareDx worth $9,970,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of CareDx by 7.1% in the fourth 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 in the last quarter. Bamco Inc. NY grew its holdings in shares of CareDx by 17.6% in the fourth 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 in the last quarter. Fred Alger Management LLC grew its holdings in shares of CareDx by 7.3% in the fourth 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 in the last quarter. Invesco Ltd. grew its holdings in shares of CareDx by 3.5% in the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock valued at $32,433,000 after purchasing an additional 51,160 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of CareDx by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock valued at $30,663,000 after purchasing an additional 196,298 shares in the last quarter.

Insider Transactions at CareDx

In other news, Director Peter Maag sold 13,281 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now owns 316,743 shares in the company, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine Cournoyer sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total transaction of $235,971.00. Following the sale, the director now owns 37,045 shares of the company's stock, valued at $523,445.85. This represents a 31.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,382 shares of company stock worth $934,509. 4.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CDNA. Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of CareDx in a report on Monday, May 5th. Finally, HC Wainwright reiterated a "neutral" rating and set a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

CareDx Stock Down 0.9%

NASDAQ CDNA traded down $0.16 on Friday, hitting $16.95. 982,264 shares of the stock were exchanged, compared to its average volume of 894,949. CareDx, Inc has a fifty-two week low of $12.90 and a fifty-two week high of $34.84. The company has a market cap of $943.79 million, a PE ratio of -6.28 and a beta of 2.27. The company has a 50-day moving average price of $17.48 and a 200-day moving average price of $20.73.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company's revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. As a group, equities research analysts predict that CareDx, Inc will post -0.9 EPS for the current fiscal year.

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.