Zweig DiMenna Associates LLC Has $12.79 Million Stock Holdings in CareDx, Inc. $CDNA

Zweig DiMenna Associates LLC grew its stake in CareDx, Inc. (NASDAQ:CDNA) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 679,000 shares of the company’s stock after buying an additional 104,000 shares during the period. Zweig DiMenna Associates LLC’s holdings in CareDx were worth $12,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CDNA. FNY Investment Advisers LLC acquired a new stake in shares of CareDx in the third quarter valued at about $31,000. Quantbot Technologies LP acquired a new stake in shares of CareDx in the third quarter valued at about $89,000. CWM LLC increased its stake in shares of CareDx by 119.1% in the fourth quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after buying an additional 4,026 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 period. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of CareDx in the fourth quarter valued at about $203,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on 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 upped their target price on CareDx from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CareDx in a research report on Wednesday. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, CareDx presently has an average rating of “Hold” and a consensus target price of $25.00.

CareDx Price Performance

Shares of CareDx stock opened at $22.82 on Friday. CareDx, Inc. has a one year low of $10.96 and a one year high of $23.24. The stock’s 50-day moving average is $19.75 and its 200 day moving average is $19.15. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -142.63 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last announced its earnings results on Tuesday, April 28th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The company had revenue of $117.70 million for the quarter, compared to analyst estimates of $102.03 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 39.3% compared to the same quarter last year. On average, sell-side analysts expect that CareDx, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity at CareDx

In related news, CEO John Walter Hanna, Jr. sold 10,282 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $21.12, for a total transaction of $217,155.84. Following the sale, the chief executive officer owned 676,475 shares in the company, valued at $14,287,152. This represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is currently owned by 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.