Jacobs Levy Equity Management Inc. Has $26.63 Million Position in CareDx, Inc (NASDAQ:CDNA)

Jacobs Levy Equity Management Inc. boosted its stake in CareDx, Inc (NASDAQ:CDNA - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,243,580 shares of the company's stock after buying an additional 428,864 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 2.32% of CareDx worth $26,625,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in CareDx by 1.9% in the fourth quarter. Swiss National Bank now owns 98,600 shares of the company's stock worth $2,111,000 after acquiring an additional 1,800 shares during the last quarter. Barclays PLC lifted its holdings 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 last quarter. Allspring Global Investments Holdings LLC lifted 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 worth $7,008,000 after acquiring an additional 122,356 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in CareDx in the fourth quarter worth about $208,000. Finally, Principal Financial Group Inc. lifted its holdings in CareDx by 6.5% in the fourth quarter. Principal Financial Group Inc. now owns 18,984 shares of the company's stock worth $406,000 after acquiring an additional 1,151 shares during the last quarter.

Insider Activity at CareDx

In related news, Director Peter Maag sold 13,281 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christine Cournoyer sold 29,136 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $15.96, for a total transaction of $465,010.56. Following the sale, the director now directly owns 37,045 shares in the company, valued at $591,238.20. This represents a 44.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,382 shares of company stock valued at $934,509. Insiders own 4.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CDNA. StockNews.com cut CareDx from a "buy" rating to a "hold" rating in a report on Monday, May 5th. The Goldman Sachs Group cut 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. Stephens reaffirmed an "overweight" rating and set a $40.00 price target on shares of CareDx in a report on Monday, May 5th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $25.00 price target on shares of CareDx in a report on Monday, May 5th. Three 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

CareDx Stock Up 8.9%

Shares of NASDAQ:CDNA traded up $1.44 during trading on Friday, reaching $17.54. 2,463,994 shares of the company traded hands, compared to its average volume of 885,789. The firm has a fifty day simple moving average of $17.62 and a 200 day simple moving average of $20.92. The firm has a market cap of $976.64 million, a P/E ratio of -6.50 and a beta of 2.27. CareDx, Inc has a 1-year low of $12.90 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business 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 business earned ($0.03) EPS. CareDx's quarterly revenue was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that CareDx, Inc will post -0.9 EPS for the current year.

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.