Jupiter Topco LLC Acquires Shares of 339,418 CareDx, Inc. $CDNA

Jupiter Topco LLC bought a new stake in CareDx, Inc. (NASDAQ:CDNA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 339,418 shares of the company’s stock, valued at approximately $9,673,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of CareDx during the second quarter valued at approximately $137,219,000. State Street Corp raised its holdings in shares of CareDx by 6.7% in the fourth quarter. State Street Corp now owns 2,737,752 shares of the company’s stock worth $51,579,000 after buying an additional 171,303 shares during the period. Bamco Inc. NY lifted its stake in shares of CareDx by 11.2% during the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock worth $47,593,000 after acquiring an additional 245,651 shares during the last quarter. Deerfield Management Company L.P. bought a new stake in shares of CareDx during the 3rd quarter worth approximately $31,857,000. Finally, Gagnon Securities LLC boosted its holdings in CareDx by 2.6% during the 4th quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company’s stock valued at $33,439,000 after acquiring an additional 45,465 shares during the period.

CareDx Stock Performance

CDNA opened at $49.79 on Monday. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 24.05 and a beta of 2.38. CareDx, Inc. has a 12-month low of $12.37 and a 12-month high of $53.67. The business’s fifty day simple moving average is $38.41 and its 200-day simple moving average is $26.48.

CareDx (NASDAQ:CDNA) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm had revenue of $131.95 million during the quarter, compared to the consensus estimate of $114.05 million. During the same period in the previous year, the company posted ($0.16) earnings per share. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. On average, equities research analysts predict that CareDx, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the transaction, the director owned 36,686 shares in the company, valued at $847,813.46. The trade was a 24.81% decrease in their ownership of the stock. The transaction 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. Also, Director George Bickerstaff sold 20,000 shares of CareDx stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the completion of the transaction, the director directly owned 134,061 shares in the company, valued at $6,204,343.08. This represents a 12.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 114,936 shares of company stock worth $3,770,348. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

CDNA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, August 3rd. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a report on Friday, July 31st. BTIG Research raised their price target on shares of CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, William Blair upgraded shares of CareDx to a “hold” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.75.

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.