Ieq Capital LLC Purchases Shares of 14,666 CareDx, Inc. $CDNA

Ieq Capital LLC acquired a new stake in shares of CareDx, Inc. (NASDAQ:CDNA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,666 shares of the company’s stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of CareDx by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,110,014 shares of the company’s stock valued at $19,703,000 after buying an additional 170,504 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 worth $2,378,000 after acquiring an additional 13,619 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in CareDx by 41.2% in the second quarter. JPMorgan Chase & Co. now owns 68,602 shares of the company’s stock worth $1,340,000 after acquiring an additional 20,028 shares in the last quarter. First Trust Advisors LP acquired a new stake in CareDx in the second quarter valued at approximately $1,822,000. Finally, Nebula Research & Development LLC acquired a new stake in CareDx in the second quarter valued at approximately $281,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. William Blair upgraded CareDx to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. BTIG Research lifted their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, CareDx currently has a consensus rating of “Moderate Buy” and an average price target of $47.75.

CareDx Stock Down 4.9%

Shares of CareDx stock opened at $49.79 on Friday. CareDx, Inc. has a 52 week low of $12.37 and a 52 week high of $53.67. The business has a 50 day moving average price of $38.41 and a 200-day moving average price of $26.44. The company has a market cap of $2.58 billion, a PE ratio of 24.05 and a beta of 2.39.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $114.05 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. CareDx’s revenue was up 52.2% compared to the same quarter last year. As a group, research analysts anticipate that CareDx, Inc. will post 0.47 EPS for the current year.

Insider Activity

In other CareDx news, Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction dated 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 directly owned 42,943 shares of the company’s stock, valued at approximately $2,015,744.42. This represents a 27.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at $19,355,681.16. The trade was a 5.68% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 114,936 shares of company stock worth $3,770,348. Company insiders own 2.40% of the company’s stock.

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.