Two Sigma Investments LP Boosts Position in CareDx, Inc (NASDAQ:CDNA)

Two Sigma Investments LP lifted its position in shares of CareDx, Inc (NASDAQ:CDNA - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,836 shares of the company's stock after purchasing an additional 156,312 shares during the period. Two Sigma Investments LP owned 0.87% of CareDx worth $10,038,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Swiss National Bank lifted its holdings in CareDx by 1.9% in the 4th quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after buying an additional 1,800 shares during the period. Barclays PLC lifted its stake in CareDx by 123.8% in the third quarter. Barclays PLC now owns 98,505 shares of the company's stock worth $3,075,000 after acquiring an additional 54,482 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in CareDx by 59.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company's stock valued at $7,008,000 after acquiring an additional 122,356 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in CareDx during the 4th quarter valued at $208,000. Finally, Principal Financial Group Inc. raised its holdings in CareDx by 6.5% in the 4th 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 in the last quarter.

Insider Activity

In related news, Director Peter Maag sold 13,281 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christine Cournoyer sold 29,136 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the transaction, the director now owns 37,045 shares in the company, valued at $591,238.20. This represents a 44.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,382 shares of company stock worth $934,509 over the last 90 days. 4.90% of the stock is currently owned by insiders.

CareDx Stock Performance

Shares of CareDx stock traded up $0.68 during midday trading on Tuesday, hitting $17.63. The company had a trading volume of 1,378,386 shares, compared to its average volume of 896,883. CareDx, Inc has a 52-week low of $12.90 and a 52-week high of $34.84. The stock has a market capitalization of $981.66 million, a P/E ratio of -6.53 and a beta of 2.27. The company has a 50 day moving average of $17.41 and a 200 day moving average of $20.64.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its quarterly 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. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm had revenue of $84.69 million during the quarter, compared to analyst estimates of $84.56 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. CareDx's quarterly revenue was up 17.6% compared to the same quarter last year. Equities research analysts forecast that CareDx, Inc will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CDNA shares. HC Wainwright reissued a "neutral" rating and issued a $25.00 price target on shares of CareDx in a research note on Monday, May 5th. The Goldman Sachs Group lowered their target price on CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Stephens reaffirmed an "overweight" rating and issued a $40.00 price target on shares of CareDx in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded CareDx from a "buy" rating to a "hold" rating in a report 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.33.

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.