Royce & Associates LP Increases Position in CareDx, Inc. $CDNA

Royce & Associates LP boosted its holdings in CareDx, Inc. (NASDAQ:CDNA) by 43.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 581,211 shares of the company’s stock after purchasing an additional 176,817 shares during the quarter. Royce & Associates LP owned about 1.13% of CareDx worth $10,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CDNA. FNY Investment Advisers LLC purchased a new stake in CareDx in the third quarter worth about $31,000. Quantbot Technologies LP purchased a new stake in CareDx in the third quarter worth about $89,000. CWM LLC grew its holdings in CareDx by 119.1% in the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock worth $140,000 after purchasing an additional 4,026 shares during the period. Tower Research Capital LLC TRC grew its holdings in CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after purchasing an additional 4,160 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in CareDx in the third quarter worth about $201,000.

Insider Transactions at CareDx

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $21.12, for a total value of $217,155.84. Following the sale, the chief executive officer owned 676,475 shares in the company, valued at approximately $14,287,152. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.40% of the company’s stock.

CareDx Stock Up 2.9%

NASDAQ:CDNA opened at $22.16 on Thursday. The company’s 50 day moving average price is $19.54 and its 200-day moving average price is $19.07. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $23.24. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -138.50 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The firm had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $102.03 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CareDx, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of recent research reports. 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 report on Wednesday, February 25th. BTIG Research increased their price target on shares of CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings cut shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

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.