GAMMA Investing LLC Acquires 43,694 Shares of CareDx, Inc. (NASDAQ:CDNA)

GAMMA Investing LLC grew its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 1,818.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,097 shares of the company’s stock after acquiring an additional 43,694 shares during the quarter. GAMMA Investing LLC owned about 0.08% of CareDx worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of CareDx during the fourth quarter valued at approximately $210,000. Mackenzie Financial Corp bought a new stake in shares of CareDx in the fourth quarter valued at $631,000. Public Employees Retirement System of Ohio raised its stake in shares of CareDx by 6.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 53,672 shares of the company’s stock valued at $1,149,000 after buying an additional 3,287 shares during the period. Castleark Management LLC raised its stake in shares of CareDx by 41.7% in the fourth quarter. Castleark Management LLC now owns 198,180 shares of the company’s stock valued at $4,243,000 after buying an additional 58,300 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CareDx by 124.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,347 shares of the company’s stock valued at $2,577,000 after buying an additional 66,833 shares during the period.

CareDx Stock Performance

NASDAQ CDNA opened at $19.52 on Wednesday. CareDx, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $34.84. The stock has a 50 day simple moving average of $17.55 and a two-hundred day simple moving average of $20.17. The stock has a market cap of $1.09 billion, a P/E ratio of 16.97 and a beta of 2.18.

CareDx (NASDAQ:CDNA) last announced its earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. CareDx had a return on equity of 21.16% and a net margin of 19.79%. The firm had revenue of $84.69 million during the quarter, compared to analyst estimates of $84.56 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The business’s revenue was up 17.6% compared to the same quarter last year. Sell-side analysts predict that CareDx, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at CareDx

In related news, Director William A. Hagstrom sold 19,391 shares of CareDx stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $19.90, for a total transaction of $385,880.90. Following the transaction, the director now directly owns 53,979 shares in the company, valued at approximately $1,074,182.10. The trade was a 26.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $17.23, for a total value of $228,831.63. Following the transaction, the director now owns 316,743 shares in the company, valued at $5,457,481.89. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,773 shares of company stock worth $1,843,890 in the last ninety days. Insiders own 4.40% of the company’s stock.

CareDx Profile

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.