Squarepoint Ops LLC Purchases 16,484 Shares of CareDx, Inc (NASDAQ:CDNA)

Squarepoint Ops LLC boosted its position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 231,235 shares of the company's stock after purchasing an additional 16,484 shares during the period. Squarepoint Ops LLC owned 0.43% of CareDx worth $4,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CDNA. Vanguard Group Inc. increased its stake 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 purchasing an additional 323,554 shares during the last quarter. Bamco Inc. NY lifted its stake 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 buying an additional 330,627 shares during the period. Fred Alger Management LLC grew its holdings in shares of CareDx by 7.3% during the 4th quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company's stock worth $34,556,000 after purchasing an additional 110,471 shares in the last quarter. Invesco Ltd. increased its holdings in CareDx by 3.5% in the 4th quarter. Invesco Ltd. now owns 1,514,850 shares of the company's stock valued at $32,433,000 after buying an additional 51,160 shares during the period. Finally, Renaissance Technologies LLC raised its stake in CareDx by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company's stock worth $30,663,000 after acquiring an additional 196,298 shares in the last quarter.

CareDx Trading Up 4.0%

Shares of NASDAQ:CDNA traded up $0.68 during mid-day trading on Tuesday, reaching $17.63. The stock had a trading volume of 1,378,386 shares, compared to its average volume of 896,883. The firm has a 50 day simple moving average of $17.41 and a two-hundred day simple moving average of $20.64. CareDx, Inc has a twelve month low of $12.90 and a twelve month high of $34.84. The firm has a market cap of $981.66 million, a PE ratio of -6.53 and a beta of 2.27.

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

Insider Buying and Selling

In related news, Director Christine Cournoyer sold 16,700 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of the transaction, the director now directly owns 37,045 shares in the company, valued at approximately $523,445.85. The trade was a 31.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Maag sold 13,281 shares of the firm'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 sale, the director now owns 316,743 shares in the company, valued at $5,457,481.89. This trade represents a 4.02% 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 owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CDNA shares. Stephens reissued an "overweight" rating and set a $40.00 price target on shares of CareDx in a report on Monday, May 5th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 target price on shares of CareDx in a research note on Monday, May 5th. Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.