Braidwell LP Has $34.79 Million Holdings in CareDx, Inc. $CDNA

Braidwell LP decreased its holdings in CareDx, Inc. (NASDAQ:CDNA) by 43.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,220,602 shares of the company’s stock after selling 952,544 shares during the quarter. CareDx makes up 1.3% of Braidwell LP’s investment portfolio, making the stock its 28th biggest holding. Braidwell LP’s holdings in CareDx were worth $34,787,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CDNA. Nykredit A S acquired a new stake in CareDx in the second quarter valued at $25,000. Quarry LP acquired a new position in CareDx during the 4th quarter worth about $25,000. Allworth Financial LP acquired a new position in CareDx during the 2nd quarter worth about $72,000. Meeder Asset Management Inc. bought a new stake in shares of CareDx in the 4th quarter valued at about $79,000. Finally, Quantbot Technologies LP bought a new stake in shares of CareDx in the 3rd quarter valued at about $89,000.

Analysts Set New Price Targets

CDNA has been the subject of several recent research reports. Weiss Ratings raised CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. William Blair raised CareDx to a “hold” rating in a research note on Thursday, July 16th. BTIG Research upped their target price on CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research raised shares of CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Craig Hallum upgraded shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

CareDx Stock Up 1.3%

CDNA stock opened at $49.60 on Thursday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 23.96 and a beta of 2.43. The company’s fifty day simple moving average is $39.84 and its 200 day simple moving average is $27.11. CareDx, Inc. has a 12-month low of $12.37 and a 12-month high of $53.67.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share 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 firm had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period last year, the business posted ($0.16) EPS. The business’s revenue was up 52.2% compared to the same quarter last year. Research analysts expect that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In other CareDx news, Director George Bickerstaff sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total value of $925,600.00. Following the transaction, the director directly owned 134,061 shares of the company’s stock, valued at approximately $6,204,343.08. The trade was a 12.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the transaction, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. This trade represents a 24.81% 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. Insiders have sold 110,101 shares of company stock worth $3,654,308 in the last quarter. 2.40% of the stock is currently owned by company insiders.

CareDx 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.