Wealth Enhancement Advisory Services LLC Invests $210,000 in CareDx, Inc (NASDAQ:CDNA)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of CareDx, Inc (NASDAQ:CDNA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,813 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors also recently modified their holdings of CDNA. Vanguard Group Inc. increased its holdings in CareDx by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 4,859,732 shares of the company’s stock valued at $104,047,000 after purchasing an additional 323,554 shares during the period. Bamco Inc. NY increased its holdings in CareDx by 17.6% in the fourth quarter. Bamco Inc. NY now owns 2,207,299 shares of the company’s stock valued at $47,258,000 after purchasing an additional 330,627 shares during the period. Fred Alger Management LLC increased its holdings in CareDx by 7.3% in the fourth quarter. Fred Alger Management LLC now owns 1,613,992 shares of the company’s stock valued at $34,556,000 after purchasing an additional 110,471 shares during the period. Invesco Ltd. increased its holdings in CareDx by 3.5% in the fourth quarter. Invesco Ltd. now owns 1,514,850 shares of the company’s stock valued at $32,433,000 after purchasing an additional 51,160 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in CareDx by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,432,198 shares of the company’s stock valued at $30,663,000 after purchasing an additional 196,298 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDNA. Wall Street Zen downgraded CareDx from a “buy” rating to a “hold” rating in a report on Monday, May 5th. HC Wainwright restated a “neutral” rating and issued a $25.00 price objective on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group decreased their price objective on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of CareDx in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, CareDx has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

CareDx Trading Up 2.6%

Shares of CDNA opened at $19.07 on Tuesday. The stock has a market capitalization of $1.06 billion, a P/E ratio of -7.06 and a beta of 2.18. The firm’s fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $20.17. CareDx, Inc has a 12 month low of $13.18 and a 12 month high of $34.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $84.69 million for the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, research analysts predict that CareDx, Inc will post -0.9 EPS for the current fiscal year.

Insider Transactions at CareDx

In other news, Director William A. Hagstrom sold 30,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $17.45, for a total transaction of $523,500.00. Following the transaction, the director now owns 53,979 shares of the company’s stock, valued at $941,933.55. This represents a 35.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christine Cournoyer sold 16,700 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total transaction of $235,971.00. Following the transaction, the director now directly owns 37,045 shares in the company, valued at $523,445.85. This trade represents a 31.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,773 shares of company stock valued at $1,843,890 in the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

About CareDx

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.