Zweig DiMenna Associates LLC Buys 348,400 Shares of CareDx, Inc. $CDNA

Zweig DiMenna Associates LLC increased its position in CareDx, Inc. (NASDAQ:CDNA) by 153.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 575,000 shares of the company’s stock after purchasing an additional 348,400 shares during the quarter. Zweig DiMenna Associates LLC owned approximately 1.08% of CareDx worth $8,360,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of CareDx during the second quarter valued at about $40,000. State of Alaska Department of Revenue bought a new stake in CareDx during the 3rd quarter worth approximately $43,000. RiverPark Advisors LLC bought a new position in shares of CareDx during the second quarter valued at about $149,000. Tower Research Capital LLC TRC increased its position in shares of CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after purchasing an additional 4,160 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in CareDx by 40.0% during the second quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock valued at $187,000 after purchasing an additional 2,736 shares during the period.

Wall Street Analyst Weigh In

CDNA has been the subject of several recent analyst reports. Wall Street Zen cut CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Zacks Research raised shares of CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. BTIG Research increased their price objective on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Craig Hallum cut shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a report on Tuesday, January 6th. Finally, Wells Fargo & Company increased their price target on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, CareDx has a consensus rating of “Hold” and an average target price of $26.67.

Insider Activity at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 19,280 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the transaction, the chief executive officer owned 597,405 shares of the company’s stock, valued at $12,641,089.80. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 29,636 shares of company stock valued at $625,949 over the last quarter. 4.40% of the stock is currently owned by insiders.

CareDx Trading Up 2.8%

CareDx stock opened at $19.63 on Tuesday. The stock has a fifty day simple moving average of $19.73 and a two-hundred day simple moving average of $16.45. CareDx, Inc. has a 12 month low of $10.96 and a 12 month high of $25.55. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 16.50 and a beta of 2.51.

About CareDx

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.