Caxton Associates LP Purchases New Holdings in CareDx Inc (CDNA)
Caxton Associates LP purchased a new position in shares of CareDx Inc (NASDAQ:CDNA) in the third quarter, HoldingsChannel.com reports. The firm purchased 6,965 shares of the company’s stock, valued at approximately $201,000.
A number of other institutional investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. purchased a new position in CareDx in the 2nd quarter valued at $479,000. Rhumbline Advisers purchased a new position in CareDx in the 2nd quarter valued at $377,000. Bank of New York Mellon Corp grew its position in CareDx by 128.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 155,802 shares of the company’s stock valued at $1,907,000 after buying an additional 87,698 shares during the last quarter. Strs Ohio purchased a new position in CareDx in the 2nd quarter valued at $116,000. Finally, Russell Investments Group Ltd. grew its position in CareDx by 1,721.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 137,344 shares of the company’s stock valued at $1,683,000 after buying an additional 129,804 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.
A number of equities analysts recently weighed in on the stock. HC Wainwright set a $28.00 price objective on shares of CareDx and gave the company a “hold” rating in a research report on Monday, November 12th. Craig Hallum restated a “buy” rating and set a $40.00 target price on shares of CareDx in a research report on Friday, November 9th. Zacks Investment Research upgraded shares of CareDx from a “sell” rating to a “hold” rating in a research report on Tuesday, November 6th. Raymond James restated a “strong-buy” rating and set a $30.00 target price on shares of CareDx in a research report on Tuesday, October 23rd. Finally, Piper Jaffray Companies boosted their target price on shares of CareDx to $42.00 in a research report on Wednesday, September 5th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. CareDx presently has an average rating of “Buy” and an average target price of $30.80.
CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, November 8th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.42). The company had revenue of $21.18 million for the quarter, compared to analysts’ expectations of $18.47 million. CareDx had a negative return on equity of 125.24% and a negative net margin of 113.89%. Equities research analysts forecast that CareDx Inc will post -1.32 earnings per share for the current year.
In other news, insider Sasha King sold 11,500 shares of CareDx stock in a transaction on Friday, October 5th. The stock was sold at an average price of $24.60, for a total transaction of $282,900.00. Following the completion of the transaction, the insider now owns 53,542 shares of the company’s stock, valued at approximately $1,317,133.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Neil Gagnon sold 108,599 shares of CareDx stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $27.05, for a total value of $2,937,602.95. The disclosure for this sale can be found here. Insiders have sold a total of 270,099 shares of company stock worth $7,397,503 over the last 90 days. Insiders own 3.40% of the company’s stock.
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CareDx, Inc operates as a transplant diagnostics company, which offers pre- and post-transplant continuum. It focuses on discovery, development, and commercialization of diagnostic surveillance solutions. Its product includes AlloMap, which aids clinicians in identifying heart transplant recipients with stable allograft function and AlloSure, which is a donor-derived cell free DNA test.
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