Rafferty Asset Management LLC Raises Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

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

Other hedge funds also recently bought and sold shares of the company. Divisadero Street Capital Management LP purchased a new position in shares of CareDx in the fourth quarter valued at approximately $15,239,000. Jacobs Levy Equity Management Inc. lifted its position in shares of CareDx by 52.6% in 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 acquiring an additional 428,864 shares in the last quarter. Bamco Inc. NY lifted its position 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 acquiring an additional 330,627 shares in the last quarter. Vanguard Group Inc. lifted its position 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 acquiring an additional 323,554 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in shares of CareDx in the fourth quarter valued at approximately $5,460,000.

Insiders Place Their Bets

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

CareDx Stock Performance

Shares of CareDx stock opened at $17.70 on Tuesday. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The company has a market cap of $985.55 million, a price-to-earnings ratio of -6.56 and a beta of 2.27. The business's 50 day moving average price is $17.60 and its 200 day moving average price is $20.88.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stephens restated an "overweight" rating and issued a $40.00 target price on shares of CareDx in a research report on Monday, May 5th. StockNews.com downgraded 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 objective on shares of CareDx in a research report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, CareDx currently has an average rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding CDNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CareDx, Inc (NASDAQ:CDNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.