80,000 Shares in CareDx, Inc (NASDAQ:CDNA) Bought by Prosight Management LP

Prosight Management LP acquired a new position in CareDx, Inc (NASDAQ:CDNA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,000 shares of the company's stock, valued at approximately $1,713,000. Prosight Management LP owned about 0.15% of CareDx as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP acquired a new stake in CareDx in the 4th quarter valued at approximately $15,239,000. Jacobs Levy Equity Management Inc. raised its position in shares of CareDx by 52.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,243,580 shares of the company's stock valued at $26,625,000 after buying an additional 428,864 shares during the last quarter. Bamco Inc. NY increased its stake in CareDx by 17.6% during the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company's stock valued at $47,258,000 after acquiring an additional 330,627 shares during the period. Vanguard Group Inc. raised its holdings in CareDx by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company's stock valued at $104,047,000 after acquiring an additional 323,554 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of CareDx in the 4th quarter worth approximately $5,460,000.

Insider Transactions at CareDx

In other CareDx 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 completion of the sale, the director now directly owns 316,743 shares of the company's stock, valued at approximately $5,457,481.89. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christine Cournoyer sold 16,700 shares of CareDx stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total transaction of $235,971.00. Following the completion of the sale, the director now directly owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,382 shares of company stock worth $934,509 over the last ninety days. 4.90% of the stock is owned by insiders.

Analyst Ratings Changes

CDNA has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on shares of CareDx from $34.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. HC Wainwright reissued a "neutral" rating and set a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. Stephens reaffirmed an "overweight" rating and issued a $40.00 target price on shares of CareDx in a report on Monday, May 5th. Finally, StockNews.com downgraded CareDx from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.33.

CareDx Stock Performance

Shares of CareDx stock traded down $0.23 on Tuesday, reaching $17.47. 309,196 shares of the stock were exchanged, compared to its average volume of 886,666. The firm's 50 day moving average is $17.60 and its 200-day moving average is $20.88. The firm has a market cap of $972.80 million, a PE ratio of -6.46 and a beta of 2.27. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84.

CareDx (NASDAQ:CDNA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $84.69 million during the quarter, compared to analysts' expectations of $84.56 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities research analysts expect that CareDx, Inc will post -0.9 EPS for the current fiscal year.

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.