Cubist Systematic Strategies LLC Cuts Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Cubist Systematic Strategies LLC reduced its stake in CareDx, Inc (NASDAQ:CDNA) by 71.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,268 shares of the company’s stock after selling 240,380 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in CareDx were worth $2,061,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in shares of CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after acquiring an additional 1,126 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in CareDx by 553.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after purchasing an additional 3,322 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in CareDx by 34.1% during the fourth quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock worth $116,000 after purchasing an additional 1,370 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock worth $200,000 after purchasing an additional 2,742 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in CareDx in the 4th quarter valued at about $208,000.

Insiders Place Their Bets

In related news, Director Peter Maag sold 13,281 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the transaction, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine Cournoyer sold 16,700 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of the sale, the director now directly owns 37,045 shares in the company, valued at approximately $523,445.85. The trade was a 31.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,246 shares of company stock worth $469,498 in the last quarter. 4.90% of the stock is owned by company insiders.

CareDx Price Performance

Shares of NASDAQ CDNA opened at $15.42 on Monday. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The business’s fifty day moving average price is $17.87 and its 200-day moving average price is $21.13. The stock has a market capitalization of $858.60 million, a PE ratio of -5.71 and a beta of 2.27.

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

Analyst Upgrades and Downgrades

CDNA has been the topic of a number of research analyst reports. Stephens restated an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $28.00 to $24.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group decreased their target price on CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. HC Wainwright reiterated a “neutral” rating and set a $25.00 target price on shares of CareDx in a research note on Monday, May 5th. Finally, StockNews.com lowered shares of CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CareDx has an average rating of “Moderate Buy” and an average target price of $30.33.

CareDx Company 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.