Point72 Asset Management L.P. Has $9.97 Million Holdings in CareDx, Inc (NASDAQ:CDNA)

Point72 Asset Management L.P. increased its position in CareDx, Inc (NASDAQ:CDNA - Free Report) by 81.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 465,665 shares of the company's stock after purchasing an additional 209,085 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.87% of CareDx worth $9,970,000 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 company. Sterling Capital Management LLC grew its position in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after buying an additional 1,126 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of 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 purchasing an additional 3,322 shares in the last quarter. Plato Investment Management Ltd lifted its stake in CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after acquiring an additional 1,370 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock valued at $200,000 after acquiring an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in CareDx in the 4th quarter valued at approximately $208,000.

CareDx Trading Down 0.9%

Shares of CareDx stock traded down $0.16 on Friday, reaching $16.95. 982,264 shares of the company were exchanged, compared to its average volume of 893,720. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The company has a market capitalization of $943.79 million, a price-to-earnings ratio of -6.28 and a beta of 2.27. The company has a 50-day moving average of $17.48 and a 200 day moving average of $20.75.

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

Insider Buying and Selling

In related news, Director Peter Maag sold 13,281 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the transaction, the director now directly owns 316,743 shares of the company's stock, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $15.96, for a total value of $465,010.56. Following the transaction, the director now directly owns 37,045 shares in the company, valued at $591,238.20. The trade was a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,382 shares of company stock valued at $934,509. 4.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CDNA shares. The Goldman Sachs Group cut their target price 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 restated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Wall Street Zen cut CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, HC Wainwright restated a "neutral" rating and issued a $25.00 target price on shares of CareDx in a research note on Monday, May 5th. Three 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 stock has an average rating of "Moderate Buy" and an average target price of $30.33.

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.