696,336 CareDx, Inc. $CDNA Shares Sold by Gagnon Securities LLC

Gagnon Securities LLC lessened its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 39.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,074,399 shares of the company’s stock after selling 696,336 shares during the quarter. CareDx comprises approximately 12.1% of Gagnon Securities LLC’s portfolio, making the stock its biggest position. Gagnon Securities LLC’s holdings in CareDx were worth $69,836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CDNA. BlackRock Inc. purchased a new position in CareDx during the 2nd quarter worth $137,219,000. Bamco Inc. NY purchased a new stake in CareDx in the second quarter valued at about $55,214,000. Bank of America Corp DE purchased a new stake in CareDx in the second quarter valued at about $16,297,000. Palo Alto Investors LP purchased a new stake in CareDx in the second quarter valued at about $15,158,295. Finally, Jupiter Topco LLC acquired a new stake in CareDx in the second quarter worth about $9,673,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CDNA shares. Piper Sandler began coverage on CareDx in a research note on Wednesday. They set an “overweight” rating and a $100.00 price target on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of CareDx in a research report on Friday, July 31st. Weiss Ratings raised shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus target price of $70.33.

CareDx Price Performance

Shares of CDNA opened at $81.17 on Thursday. The company’s fifty day moving average price is $65.18 and its 200-day moving average price is $36.12. CareDx, Inc. has a 1-year low of $15.15 and a 1-year high of $90.87. The firm has a market capitalization of $4.26 billion, a PE ratio of 33.96 and a beta of 2.51.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, October 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.45. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company had revenue of $139.36 million during the quarter, compared to analyst estimates of $121.96 million. During the same quarter last year, the business posted $0.03 EPS. The firm’s quarterly revenue was up 39.3% on a year-over-year basis. As a group, research analysts anticipate that CareDx, Inc. will post 0.99 EPS for the current fiscal year.

Insider Transactions at CareDx

In other CareDx news, CFO Keith Kennedy sold 61,961 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $77.82, for a total value of $4,821,805.02. Following the sale, the chief financial officer directly owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. This represents a 23.73% decrease in their ownership of the stock. The transaction 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. 2.40% of the stock is owned by corporate insiders.

CareDx Profile

CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.