Portolan Capital Management LLC Buys 303,555 Shares of CareDx, Inc. $CDNA

Portolan Capital Management LLC lifted its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 48.2% during the third quarter, HoldingsChannel.com reports. The fund owned 933,532 shares of the company’s stock after buying an additional 303,555 shares during the quarter. Portolan Capital Management LLC’s holdings in CareDx were worth $13,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP purchased a new stake in shares of CareDx in the second quarter valued at approximately $40,000. State of Alaska Department of Revenue purchased a new position in CareDx during the 3rd quarter worth $43,000. Quantbot Technologies LP purchased a new position in CareDx during the 3rd quarter worth $89,000. RiverPark Advisors LLC bought a new stake in CareDx during the 2nd quarter valued at $149,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of CareDx by 120.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after buying an additional 4,160 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CDNA. Zacks Research raised CareDx from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Weiss Ratings downgraded CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th. Wells Fargo & Company upped their price objective on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Wall Street Zen cut shares of CareDx from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Craig Hallum downgraded shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.33.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total value of $407,964.80. Following the transaction, the chief executive officer owned 597,405 shares of the company’s stock, valued at $12,641,089.80. The trade was a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 29,636 shares of company stock valued at $625,949. 4.40% of the stock is owned by insiders.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $17.01 on Friday. CareDx, Inc. has a 1-year low of $10.96 and a 1-year high of $21.49. The business has a fifty day moving average price of $19.33 and a 200 day moving average price of $17.21. The stock has a market capitalization of $871.25 million, a P/E ratio of -42.53 and a beta of 2.52.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, February 24th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.12). The firm had revenue of $108.39 million during the quarter, compared to the consensus estimate of $102.76 million. CareDx had a negative return on equity of 6.50% and a negative net margin of 5.65%.The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, equities research analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.