Renaissance Technologies LLC Has $20.56 Million Holdings in CareDx, Inc. $CDNA

Renaissance Technologies LLC increased its holdings in CareDx, Inc. (NASDAQ:CDNA) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,184,398 shares of the company’s stock after buying an additional 79,200 shares during the period. Renaissance Technologies LLC’s holdings in CareDx were worth $20,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in CareDx during the 4th quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in CareDx in the 4th quarter valued at $79,000. Quantbot Technologies LP bought a new stake in shares of CareDx during the 3rd quarter valued at $89,000. CWM LLC lifted its position in shares of CareDx by 119.1% during the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after acquiring an additional 4,026 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of CareDx by 120.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after purchasing an additional 4,160 shares in the last quarter.

CareDx Stock Up 7.6%

CareDx stock opened at $38.10 on Friday. CareDx, Inc. has a 12-month low of $11.26 and a 12-month high of $40.47. The business’s 50-day moving average price is $28.15 and its two-hundred day moving average price is $22.46. The stock has a market cap of $1.97 billion, a PE ratio of -238.12 and a beta of 2.43.

CareDx (NASDAQ:CDNA) last posted its earnings results on Thursday, July 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.15. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The firm had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $113.83 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. As a group, analysts expect that CareDx, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John Walter Hanna, Jr. sold 39,900 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 12,103 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, the director owned 36,686 shares in the company, valued at $847,813.46. This represents a 24.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 78,936 shares of company stock valued at $2,093,708. 2.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CDNA shares. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Weiss Ratings lowered shares of CareDx from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, July 15th. Craig Hallum restated a “hold” rating and issued a $35.00 target price on shares of CareDx in a research report on Thursday, July 16th. BTIG Research boosted their target price on shares of CareDx from $28.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, William Blair upgraded shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.67.

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.