Next Century Growth Investors LLC Buys 792,629 Shares of CareDx Inc (CDNA)

Next Century Growth Investors LLC raised its stake in CareDx Inc (NASDAQ:CDNA) by 101.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,576,858 shares of the company’s stock after purchasing an additional 792,629 shares during the quarter. CareDx accounts for 1.7% of Next Century Growth Investors LLC’s portfolio, making the stock its 17th biggest position. Next Century Growth Investors LLC’s holdings in CareDx were worth $12,567,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Fred Alger Management Inc. bought a new stake in CareDx in the fourth quarter valued at approximately $9,089,000. Perceptive Advisors LLC bought a new stake in CareDx in the fourth quarter valued at approximately $7,639,000. Royce & Associates LP lifted its position in CareDx by 22.7% in the fourth quarter. Royce & Associates LP now owns 973,087 shares of the company’s stock valued at $7,142,000 after purchasing an additional 180,300 shares during the last quarter. Gagnon Advisors LLC raised its holdings in shares of CareDx by 26,929.4% during the fourth quarter. Gagnon Advisors LLC now owns 955,758 shares of the company’s stock valued at $7,015,000 after acquiring an additional 952,222 shares in the last quarter. Finally, Stonepine Capital Management LLC bought a new position in shares of CareDx during the fourth quarter valued at approximately $6,753,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.

A number of brokerages recently commented on CDNA. HC Wainwright set a $12.00 target price on CareDx and gave the company a “buy” rating in a report on Friday, March 23rd. BidaskClub upgraded CareDx from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. TheStreet upgraded CareDx from a “d-” rating to a “c-” rating in a report on Tuesday, April 10th. ValuEngine upgraded CareDx from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $17.00 target price on shares of CareDx in a report on Wednesday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. CareDx presently has an average rating of “Buy” and an average target price of $11.05.

In related news, insider Peter Maag sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 27th. The stock was sold at an average price of $7.87, for a total value of $118,050.00. Following the sale, the insider now directly owns 272,037 shares of the company’s stock, valued at $2,140,931.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Neil Gagnon purchased 10,136 shares of CareDx stock in a transaction that occurred on Thursday, April 26th. The stock was purchased at an average cost of $9.42 per share, for a total transaction of $95,481.12. Following the completion of the purchase, the insider now owns 928,768 shares of the company’s stock, valued at $8,748,994.56. The disclosure for this purchase can be found here. 3.40% of the stock is owned by corporate insiders.

Shares of CareDx stock traded down $0.56 during midday trading on Thursday, reaching $14.88. 6,479 shares of the company’s stock traded hands, compared to its average volume of 455,861. The company has a quick ratio of 2.06, a current ratio of 2.43 and a debt-to-equity ratio of 0.29. The company has a market cap of $527.84 million, a PE ratio of -19.31 and a beta of 0.46. CareDx Inc has a 12 month low of $0.98 and a 12 month high of $15.51.

CareDx (NASDAQ:CDNA) last announced its earnings results on Thursday, May 10th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.91 million. CareDx had a negative net margin of 115.91% and a negative return on equity of 158.93%. research analysts anticipate that CareDx Inc will post -0.49 earnings per share for the current year.

CareDx Company Profile

CareDx, Inc, a transplant diagnostics company, together with its subsidiaries, engages in the discovery, development, and commercialization of diagnostic surveillance solutions for transplant patients worldwide. It operates through two segments, Post-Transplant Diagnostics and Pre-Transplant Diagnostics.

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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