CareDx, Inc. $CDNA Stake Raised by Gagnon Securities LLC

Gagnon Securities LLC raised its stake in CareDx, Inc. (NASDAQ:CDNA) by 2.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,774,890 shares of the company’s stock after buying an additional 45,465 shares during the quarter. CareDx makes up approximately 6.8% of Gagnon Securities LLC’s portfolio, making the stock its biggest holding. Gagnon Securities LLC’s holdings in CareDx were worth $33,439,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of CareDx by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 27,742 shares of the company’s stock valued at $542,000 after buying an additional 1,280 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of CareDx by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,091 shares of the company’s stock valued at $365,000 after purchasing an additional 1,675 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of CareDx in the 3rd quarter worth $31,000. Gagnon Advisors LLC raised its position in shares of CareDx by 0.7% in the 4th quarter. Gagnon Advisors LLC now owns 532,892 shares of the company’s stock worth $10,040,000 after buying an additional 3,478 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of CareDx by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 103,703 shares of the company’s stock worth $1,954,000 after buying an additional 3,774 shares during the period.

Analysts Set New Price Targets

CDNA has been the subject of a number of research reports. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. BTIG Research lifted their price target on shares of CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CareDx in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company increased their target price on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

CareDx Stock Performance

NASDAQ:CDNA opened at $22.97 on Friday. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $24.13. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -143.56 and a beta of 2.49. The business has a fifty day moving average of $20.81 and a 200-day moving average of $19.60.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $102.03 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year. On average, equities research analysts predict that CareDx, Inc. will post 0.22 EPS for the current year.

Insider Activity at CareDx

In other news, CEO John Walter Hanna, Jr. sold 4,835 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $24.00, for a total value of $116,040.00. Following the sale, the chief executive officer owned 671,640 shares of the company’s stock, valued at approximately $16,119,360. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company’s stock.

About CareDx

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.