Globeflex Capital L P Acquires 39,457 Shares of CareDx, Inc. $CDNA

Globeflex Capital L P lifted its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 49.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 119,252 shares of the company’s stock after buying an additional 39,457 shares during the period. Globeflex Capital L P’s holdings in CareDx were worth $2,070,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in CareDx by 18.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock worth $19,703,000 after acquiring an additional 170,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CareDx by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 133,966 shares of the company’s stock valued at $2,378,000 after purchasing an additional 13,619 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CareDx by 41.2% in the second quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock valued at $1,340,000 after purchasing an additional 20,028 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of CareDx during the 2nd quarter worth approximately $1,822,000. Finally, Nebula Research & Development LLC acquired a new position in shares of CareDx during the 2nd quarter worth approximately $281,000.

CareDx Stock Performance

NASDAQ CDNA opened at $37.78 on Thursday. The stock has a market cap of $1.95 billion, a PE ratio of -236.12 and a beta of 2.43. The firm has a 50-day moving average of $26.23 and a 200-day moving average of $21.69. CareDx, Inc. has a 52-week low of $11.26 and a 52-week high of $40.47.

CareDx (NASDAQ:CDNA) last announced 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. The business had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. CareDx’s quarterly revenue was up 39.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, analysts predict that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $29.24, for a total transaction of $1,166,676.00. Following the transaction, 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 is accessible 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 stock was 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 of the company’s stock, valued at approximately $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 78,936 shares of company stock worth $2,093,708 in the last ninety days. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CDNA. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings cut shares of CareDx from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, July 15th. William Blair raised shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. BTIG Research upped their target price on shares of CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, Craig Hallum reiterated a “hold” rating and set a $35.00 price target on shares of CareDx in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CareDx has a consensus rating of “Hold” and an average target price of $33.67.

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.