Two Sigma Advisers LP Has $8.52 Million Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Two Sigma Advisers LP increased its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 54.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 398,000 shares of the company's stock after acquiring an additional 139,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.74% of CareDx worth $8,521,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Barclays PLC grew its holdings in shares of CareDx by 123.8% during the third quarter. Barclays PLC now owns 98,505 shares of the company's stock valued at $3,075,000 after buying an additional 54,482 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of CareDx by 31.0% during the fourth quarter. SG Americas Securities LLC now owns 24,087 shares of the company's stock valued at $516,000 after buying an additional 5,706 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of CareDx by 6.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company's stock valued at $623,000 after buying an additional 1,816 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $7,008,000 after buying an additional 122,356 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of CareDx by 1.8% during the fourth quarter. Rhumbline Advisers now owns 81,201 shares of the company's stock valued at $1,738,000 after buying an additional 1,451 shares in the last quarter.

Insiders Place Their Bets

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of the business's stock in a transaction dated 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 sale, the director now owns 37,045 shares of the company's stock, valued at $523,445.85. The trade was a 31.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Maag sold 13,281 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was 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. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,382 shares of company stock valued at $934,509 over the last quarter. Insiders own 4.90% of the company's stock.

CareDx Trading Down 3.6%

NASDAQ CDNA traded down $0.64 on Thursday, reaching $16.92. The stock had a trading volume of 142,681 shares, compared to its average volume of 894,786. The business has a 50 day moving average price of $17.38 and a 200 day moving average price of $20.62. CareDx, Inc has a 1 year low of $12.90 and a 1 year high of $34.84. The company has a market capitalization of $942.35 million, a price-to-earnings ratio of -6.27 and a beta of 2.27.

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, topping analysts' consensus estimates of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The business's quarterly revenue was up 17.6% compared to the same quarter last year. On average, analysts anticipate that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CDNA. Stephens reiterated 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 set a $25.00 price target on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

CareDx 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.