CareDx, Inc. $CDNA Shares Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC raised its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 34.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 966,916 shares of the company’s stock after acquiring an additional 247,709 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 1.88% of CareDx worth $14,059,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new stake in shares of CareDx in the 2nd quarter worth about $40,000. State of Alaska Department of Revenue bought a new position in shares of CareDx during the third quarter worth about $43,000. Quantbot Technologies LP acquired a new position in CareDx in the third quarter worth about $89,000. RiverPark Advisors LLC acquired a new position in CareDx in the second quarter worth about $149,000. Finally, Tower Research Capital LLC TRC increased its holdings in CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock valued at $149,000 after buying an additional 4,160 shares during the last quarter.

Analysts Set New Price Targets

CDNA has been the topic of several research reports. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their target price on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Weiss Ratings downgraded CareDx from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, February 27th. BTIG Research upped their price target on CareDx from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen cut CareDx from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CareDx currently has a consensus rating of “Hold” and a consensus target price of $27.33.

CareDx Price Performance

Shares of CDNA stock opened at $17.01 on Friday. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $21.49. The firm has a market capitalization of $871.25 million, a price-to-earnings ratio of -42.53 and a beta of 2.52. The business has a 50 day simple moving average of $19.33 and a 200 day simple moving average of $17.24.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The business had revenue of $108.39 million for the quarter, compared to the consensus estimate of $102.76 million. During the same period in the previous year, the firm earned $0.18 EPS. The firm’s revenue was up 25.2% on a year-over-year basis. On average, equities analysts anticipate that CareDx, Inc. will post -0.9 EPS for the current fiscal year.

Insider Activity at CareDx

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of CareDx stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the sale, the chief executive officer directly owned 597,405 shares in the company, valued at $12,641,089.80. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 29,636 shares of company stock worth $625,949 over the last quarter. 4.40% of the stock is currently owned by company insiders.

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.