CareDx, Inc. $CDNA Stock Position Reduced by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC decreased its position in CareDx, Inc. (NASDAQ:CDNA) by 42.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 390,255 shares of the company’s stock after selling 288,745 shares during the period. Zweig DiMenna Associates LLC’s holdings in CareDx were worth $6,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Aberdeen Group plc bought a new position in CareDx during the fourth quarter worth $6,506,000. Fidelis Capital Partners LLC acquired a new stake in shares of CareDx during the fourth quarter worth $420,000. First Eagle Investment Management LLC lifted its position in shares of CareDx by 15.1% in the 4th quarter. First Eagle Investment Management LLC now owns 546,722 shares of the company’s stock worth $10,300,000 after buying an additional 71,576 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of CareDx in the 4th quarter valued at about $508,000. Finally, Legal & General Group Plc grew its position in shares of CareDx by 44.0% during the 4th quarter. Legal & General Group Plc now owns 230,482 shares of the company’s stock valued at $4,342,000 after buying an additional 70,480 shares during the last quarter.

Insider Transactions at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the sale, the chief executive officer owned 661,959 shares in the company, valued at approximately $19,355,681.16. This trade represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the sale, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,218 shares of company stock valued at $2,310,864 over the last three months. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CDNA has been the topic of several research reports. BTIG Research increased their price objective on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded CareDx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.00.

CareDx Stock Performance

CDNA stock opened at $28.93 on Wednesday. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $30.00. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -180.81 and a beta of 2.43. The stock’s fifty day moving average is $24.29 and its two-hundred day moving average is $20.92.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, topping the consensus estimate 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 business had revenue of $117.70 million during the quarter, compared to analyst estimates of $102.03 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was up 39.3% on a year-over-year basis. As a group, analysts predict that CareDx, Inc. will post 0.22 EPS 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.