Point72 Asset Management L.P. Increases Stock Holdings in CareDx, Inc (NASDAQ:CDNA)

Point72 Asset Management L.P. raised its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 81.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,665 shares of the company’s stock after purchasing an additional 209,085 shares during the quarter. Point72 Asset Management L.P.’s holdings in CareDx were worth $9,970,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank increased its position in shares of CareDx by 1.9% during the fourth quarter. Swiss National Bank now owns 98,600 shares of the company’s stock valued at $2,111,000 after buying an additional 1,800 shares during the period. Barclays PLC boosted its position in CareDx by 123.8% during the 3rd quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after acquiring an additional 54,482 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of CareDx by 59.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 327,343 shares of the company’s stock worth $7,008,000 after acquiring an additional 122,356 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of CareDx in the 4th quarter worth approximately $208,000. Finally, Principal Financial Group Inc. raised its position in shares of CareDx by 6.5% in the 4th quarter. Principal Financial Group Inc. now owns 18,984 shares of the company’s stock worth $406,000 after acquiring an additional 1,151 shares in the last quarter.

CareDx Stock Performance

NASDAQ CDNA opened at $17.54 on Monday. The business’s fifty day moving average is $17.62 and its 200 day moving average is $20.91. CareDx, Inc has a fifty-two week low of $12.90 and a fifty-two week high of $34.84. The company has a market capitalization of $976.64 million, a PE ratio of -6.50 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The company had revenue of $84.69 million during the quarter, compared to the consensus estimate of $84.56 million. During the same period in the previous year, the company posted ($0.03) EPS. The firm’s revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts forecast that CareDx, Inc will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

CDNA has been the topic of several research reports. HC Wainwright restated a “neutral” rating and set a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. Stephens restated an “overweight” rating and set a $40.00 target price on shares of CareDx in a report on Monday, May 5th. The Goldman Sachs Group reduced their target price on shares of CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com cut shares of CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.33.

Insider Transactions at CareDx

In other CareDx news, Director Christine Cournoyer sold 16,700 shares of CareDx stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the sale, the director now owns 37,045 shares of the company’s stock, valued at $523,445.85. The trade was a 31.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter Maag sold 13,281 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were 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 of the company’s stock, valued at approximately $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 sold a total of 59,382 shares of company stock valued at $934,509 over the last 90 days. Company insiders own 4.90% of the company’s stock.

About CareDx

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.