Palumbo Wealth Management LLC Acquires Shares of 36,984 CareDx, Inc. $CDNA

Palumbo Wealth Management LLC bought a new position in CareDx, Inc. (NASDAQ:CDNA) during the third quarter, HoldingsChannel.com reports. The fund bought 36,984 shares of the company’s stock, valued at approximately $538,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allworth Financial LP bought a new position in shares of CareDx in the second quarter worth about $40,000. State of Alaska Department of Revenue bought a new stake in CareDx during the 3rd quarter valued at about $43,000. RiverPark Advisors LLC purchased a new stake in CareDx in the 2nd quarter valued at about $149,000. Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 4,160 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in CareDx by 40.0% in the 2nd quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock worth $187,000 after acquiring an additional 2,736 shares in the last quarter.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total value of $407,964.80. Following the transaction, the chief executive officer directly owned 597,405 shares in the company, valued at approximately $12,641,089.80. This trade represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 29,636 shares of company stock valued at $625,949. Company insiders own 4.40% of the company’s stock.

CareDx Stock Down 0.1%

Shares of NASDAQ:CDNA opened at $18.79 on Tuesday. The company has a market capitalization of $966.43 million, a price-to-earnings ratio of 15.79 and a beta of 2.51. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $22.95. The firm has a 50 day moving average of $19.68 and a 200 day moving average of $16.69.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CareDx in a research note on Monday, December 29th. Craig Hallum downgraded CareDx from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a report on Tuesday, January 6th. BTIG Research lifted their target price on CareDx from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen downgraded CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $26.67.

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.