CareDx, Inc. $CDNA Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in CareDx, Inc. (NASDAQ:CDNA) by 79.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,262 shares of the company’s stock after acquiring an additional 25,880 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in CareDx were worth $847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of CareDx by 13.3% in the third quarter. Principal Financial Group Inc. now owns 54,148 shares of the company’s stock valued at $787,000 after purchasing an additional 6,367 shares during the period. Gagnon Advisors LLC lifted its stake in CareDx by 16.6% in the 3rd quarter. Gagnon Advisors LLC now owns 529,414 shares of the company’s stock valued at $7,698,000 after buying an additional 75,251 shares in the last quarter. Gagnon Securities LLC boosted its holdings in CareDx by 11.7% in the 3rd quarter. Gagnon Securities LLC now owns 1,729,425 shares of the company’s stock worth $25,146,000 after buying an additional 180,513 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in CareDx by 40.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,740,064 shares of the company’s stock worth $25,301,000 after buying an additional 503,136 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of CareDx during the third quarter valued at approximately $43,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CareDx in a research note on Monday, December 29th. Wells Fargo & Company lifted their target price on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. BTIG Research upped their target price on shares of CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wall Street Zen downgraded shares of CareDx from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Craig Hallum lowered shares of CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, CareDx presently has an average rating of “Hold” and an average target price of $26.67.

Insider Buying and Selling at CareDx

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total value of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares of the company’s stock, valued at $12,641,089.80. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 29,636 shares of company stock valued at $625,949. Corporate insiders own 4.40% of the company’s stock.

CareDx Stock Up 6.1%

Shares of CDNA opened at $19.47 on Friday. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $25.55. The stock has a fifty day simple moving average of $19.56 and a two-hundred day simple moving average of $16.11. The company has a market capitalization of $1.00 billion, a PE ratio of 16.36 and a beta of 2.51.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. CareDx had a net margin of 19.65% and a return on equity of 20.15%. The firm had revenue of $100.06 million during the quarter, compared to analyst estimates of $95.25 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. CareDx’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities analysts anticipate that CareDx, Inc. will post -0.9 earnings per share for the current fiscal 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.