Rafferty Asset Management LLC Increases Position in CareDx, Inc (NASDAQ:CDNA)

Rafferty Asset Management LLC lifted its position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 75.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,798 shares of the company's stock after purchasing an additional 51,559 shares during the period. Rafferty Asset Management LLC owned 0.22% of CareDx worth $2,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of CareDx by 1.9% during the fourth quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after purchasing an additional 1,800 shares during the period. Barclays PLC increased its stake in shares of CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company's stock worth $3,075,000 after purchasing an additional 54,482 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of CareDx by 59.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company's stock worth $7,008,000 after purchasing an additional 122,356 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of CareDx during the fourth quarter worth approximately $208,000. Finally, Principal Financial Group Inc. increased its stake in shares of CareDx by 6.5% during the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock worth $406,000 after purchasing an additional 1,151 shares during the period.

Insider Buying and Selling at CareDx

In related news, Director Peter Maag sold 13,281 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 316,743 shares of the company's stock, valued at $5,457,481.89. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine Cournoyer sold 29,136 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total value of $465,010.56. Following the completion of the sale, the director now directly owns 37,045 shares of the company's stock, 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 quarter, insiders have sold 59,382 shares of company stock valued at $934,509. 4.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CDNA. The Goldman Sachs Group lowered 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. HC Wainwright restated a "neutral" rating and set a $25.00 price objective on shares of CareDx in a research note on Monday, May 5th. Wall Street Zen lowered CareDx from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Finally, Stephens restated an "overweight" rating and set a $40.00 price objective on shares of CareDx in a research note 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.33.

CareDx Stock Down 0.9%

Shares of CDNA stock traded down $0.16 during trading hours on Friday, reaching $16.95. The company's stock had a trading volume of 982,264 shares, compared to its average volume of 894,949. The firm's 50 day simple moving average is $17.48 and its 200-day simple moving average is $20.71. The company has a market capitalization of $943.79 million, a price-to-earnings ratio of -6.28 and a beta of 2.27. CareDx, Inc has a fifty-two week low of $12.90 and a fifty-two week high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last issued its 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. The firm had revenue of $84.69 million for the quarter, compared to the consensus estimate of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company's revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Sell-side analysts predict that CareDx, Inc will post -0.9 earnings per share for the current 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.