Quantinno Capital Management LP Buys Shares of 17,166 CareDx, Inc. $CDNA

Quantinno Capital Management LP bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,166 shares of the company’s stock, valued at approximately $298,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Globeflex Capital L P lifted its position in shares of CareDx by 49.4% in the first quarter. Globeflex Capital L P now owns 119,252 shares of the company’s stock valued at $2,070,000 after acquiring an additional 39,457 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in CareDx during the 4th quarter worth about $420,000. Renaissance Technologies LLC increased its position in CareDx by 7.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock worth $20,561,000 after purchasing an additional 79,200 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in CareDx by 2.0% in the 1st quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after purchasing an additional 28,510 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in CareDx by 15.1% in the 4th quarter. First Eagle Investment Management LLC now owns 546,722 shares of the company’s stock valued at $10,300,000 after purchasing an additional 71,576 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BTIG Research lifted their price target on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a report on Friday, July 31st. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings raised CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, CareDx has an average rating of “Moderate Buy” and a consensus target price of $47.75.

Insider Buying and Selling at CareDx

In other news, Director Christine Cournoyer sold 16,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the completion of the sale, the director owned 42,943 shares of the company’s stock, valued at $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total transaction of $925,600.00. Following the completion of the transaction, the director directly owned 134,061 shares in the company, valued at approximately $6,204,343.08. This represents a 12.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 114,936 shares of company stock valued at $3,770,348 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

CareDx Price Performance

CareDx stock opened at $48.61 on Monday. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 23.48 and a beta of 2.38. CareDx, Inc. has a 12 month low of $12.28 and a 12 month high of $49.76. The stock’s 50-day moving average is $35.85 and its 200-day moving average is $25.40.

CareDx (NASDAQ:CDNA) last issued its earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The business had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. During the same quarter in the previous year, the business earned ($0.16) EPS. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. Research analysts anticipate that CareDx, Inc. will post 0.47 EPS for the current 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.