CareDx, Inc (NASDAQ:CDNA) Position Raised by Two Sigma Advisers LP

Two Sigma Advisers LP grew its position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 54.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 about 0.74% of CareDx worth $8,521,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CDNA. Sterling Capital Management LLC increased its position in CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company's stock worth $27,000 after purchasing an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company's stock worth $84,000 after buying an additional 3,322 shares during the period. State of Wyoming acquired a new stake in shares of CareDx in the fourth quarter worth $91,000. Plato Investment Management Ltd raised its stake in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company's stock valued at $116,000 after acquiring an additional 1,370 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company's stock valued at $200,000 after acquiring an additional 2,742 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their target price on CareDx from $34.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. HC Wainwright reissued a "neutral" rating and set a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Finally, Stephens restated an "overweight" rating and set a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.33.

CareDx Price Performance

Shares of NASDAQ:CDNA traded up $0.68 during trading on Tuesday, reaching $17.63. 1,378,386 shares of the company's stock traded hands, compared to its average volume of 896,883. The stock has a market capitalization of $981.66 million, a P/E ratio of -6.53 and a beta of 2.27. CareDx, Inc has a 12 month low of $12.90 and a 12 month high of $34.84. The company has a 50 day moving average of $17.44 and a 200-day moving average of $20.66.

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 business 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 earned ($0.03) EPS. The business's quarterly revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that CareDx, Inc will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction, the director now directly owns 37,045 shares of the company's stock, valued at approximately $591,238.20. This trade represents a 44.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Maag sold 13,281 shares of the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,382 shares of company stock valued at $934,509. 4.90% of the stock is currently owned by company insiders.

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.