Bullseye Asset Management LLC Has $3.28 Million Stock Position in CareDx, Inc. $CDNA

Bullseye Asset Management LLC lifted its stake in shares of CareDx, Inc. (NASDAQ:CDNA) by 23.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,485 shares of the company’s stock after purchasing an additional 43,000 shares during the period. CareDx accounts for 1.7% of Bullseye Asset Management LLC’s holdings, making the stock its 23rd biggest position. Bullseye Asset Management LLC owned about 0.44% of CareDx worth $3,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Paragon Associates & Paragon Associates II Joint Venture increased its holdings in CareDx by 93.7% during the third quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 425,000 shares of the company’s stock worth $6,180,000 after buying an additional 205,597 shares during the last quarter. Hood River Capital Management LLC lifted its stake in CareDx by 11.5% in the second quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock valued at $34,507,000 after acquiring an additional 182,025 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of CareDx by 25.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 475,146 shares of the company’s stock valued at $6,909,000 after acquiring an additional 96,123 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of CareDx by 17.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,489 shares of the company’s stock worth $439,000 after purchasing an additional 3,389 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in shares of CareDx during the 2nd quarter worth about $6,171,000.

Insider Activity

In related news, CEO John Walter Hanna, Jr. sold 19,280 shares of the firm’s 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 transaction, the chief executive officer directly owned 597,405 shares of the company’s stock, valued at approximately $12,641,089.80. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 29,636 shares of company stock valued at $625,949 over the last three months. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CDNA shares. Wells Fargo & Company raised their target price on shares of CareDx from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. BTIG Research boosted their price target on CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Zacks Research upgraded CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings cut CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. Finally, Craig Hallum lowered CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.33.

CareDx Stock Performance

Shares of CDNA opened at $17.01 on Friday. The firm has a market cap of $871.25 million, a P/E ratio of -42.53 and a beta of 2.52. CareDx, Inc. has a 52 week low of $10.96 and a 52 week high of $21.49. The firm’s 50-day simple moving average is $19.33 and its 200 day simple moving average is $17.21.

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

CareDx 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.