Premier Fund Managers Ltd Acquires New Shares in CareDx, Inc. (NASDAQ:CDNA)

Premier Fund Managers Ltd acquired a new position in shares of CareDx, Inc. (NASDAQ:CDNA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,226 shares of the company's stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Divisadero Street Capital Management LP purchased a new stake in CareDx in the fourth quarter worth approximately $15,239,000. Chevy Chase Trust Holdings LLC purchased a new stake in shares of CareDx during the first quarter valued at approximately $9,502,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of CareDx by 52.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock valued at $26,625,000 after purchasing an additional 428,864 shares during the period. Bamco Inc. NY boosted its stake in shares of CareDx by 17.6% during 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 during the period. Finally, Vanguard Group Inc. boosted its stake in shares of CareDx by 7.1% during 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 during the period.

CareDx Stock Down 0.5%

Shares of NASDAQ CDNA traded down $0.06 during trading on Friday, reaching $12.22. The company had a trading volume of 970,322 shares, compared to its average volume of 2,184,899. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $34.84. The stock has a market cap of $680.41 million, a PE ratio of 10.63 and a beta of 2.22. The business's 50-day moving average is $17.41 and its 200 day moving average is $18.83.

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

Insider Buying and Selling

In other news, Director Christine Cournoyer sold 29,136 shares of the stock in a transaction 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 sale, the director directly owned 37,045 shares of the company's stock, valued at approximately $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Maag sold 10,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $18.58, for a total value of $185,800.00. Following the sale, the director directly owned 308,846 shares in the company, valued at $5,738,358.68. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 125,797 shares of company stock valued at $2,191,084. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen lowered CareDx from a "hold" rating to a "sell" rating in a research note on Saturday. Stephens restated an "overweight" rating and set a $40.00 target price on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group decreased their target price on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Craig Hallum decreased their target price on CareDx from $40.00 to $26.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, HC Wainwright restated a "neutral" rating and set a $25.00 target price on shares of CareDx in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CareDx has an average rating of "Hold" and an average target price of $29.33.

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.