Premier Fund Managers Ltd Invests $363,000 in CareDx, Inc. (NASDAQ:CDNA)

Premier Fund Managers Ltd purchased a new stake in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,226 shares of the company's stock, valued at approximately $363,000.

A number of other hedge funds also recently bought and sold shares of CDNA. Divisadero Street Capital Management LP bought a new position in shares of CareDx during the 4th quarter worth about $15,239,000. Chevy Chase Trust Holdings LLC acquired a new stake in CareDx in the 1st quarter valued at about $9,502,000. Jacobs Levy Equity Management Inc. increased its position in CareDx by 52.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock valued at $26,625,000 after acquiring an additional 428,864 shares in the last quarter. Bamco Inc. NY increased its position in CareDx by 17.6% in the 4th quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after acquiring an additional 330,627 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of CareDx by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock worth $104,047,000 after buying an additional 323,554 shares during the period.

CareDx Stock Down 0.5%

NASDAQ CDNA traded down $0.06 during trading on Friday, reaching $12.22. 970,322 shares of the stock traded hands, compared to its average volume of 1,142,126. The firm has a market cap of $680.41 million, a price-to-earnings ratio of 10.63 and a beta of 2.19. The stock's 50-day moving average price is $17.60 and its 200 day moving average price is $18.98. CareDx, Inc. has a fifty-two week low of $10.96 and a fifty-two week high of $34.84.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. HC Wainwright reiterated a "neutral" rating and set a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of CareDx in a research 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 research report on Thursday, April 17th. Finally, Craig Hallum lowered their price target on shares of CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, CareDx has an average rating of "Moderate Buy" and a consensus price target of $29.33.

Insider Activity at CareDx

In other CareDx news, Director Christine Cournoyer sold 29,136 shares of CareDx stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $15.96, for a total value of $465,010.56. Following the transaction, the director owned 37,045 shares of the company's stock, valued at approximately $591,238.20. The trade was a 44.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William A. Hagstrom sold 30,000 shares of CareDx stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the completion of the transaction, the director directly owned 53,979 shares in the company, valued at approximately $941,933.55. The trade was a 35.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,797 shares of company stock worth $2,191,084. Corporate insiders own 4.40% of the company's stock.

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.