Globeflex Capital L P Invests $3.40 Million in CareDx, Inc. $CDNA

Globeflex Capital L P purchased a new stake in CareDx, Inc. (NASDAQ:CDNA) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 119,252 shares of the company’s stock, valued at approximately $3,399,000. Globeflex Capital L P owned approximately 0.23% of CareDx as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CDNA. Quarry LP acquired a new position in CareDx during the fourth quarter worth about $25,000. Allworth Financial LP acquired a new stake in shares of CareDx during the 2nd quarter valued at approximately $72,000. Meeder Asset Management Inc. purchased a new stake in shares of CareDx during the 4th quarter worth approximately $79,000. Quantbot Technologies LP acquired a new stake in shares of CareDx in the 3rd quarter worth approximately $89,000. Finally, CWM LLC increased its stake in CareDx by 119.1% in the 4th quarter. CWM LLC now owns 7,407 shares of the company’s stock valued at $140,000 after purchasing an additional 4,026 shares in the last quarter.

Insider Activity at CareDx

In other CareDx news, Director George Bickerstaff sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.28, for a total transaction of $925,600.00. Following the transaction, the director owned 134,061 shares of the company’s stock, valued at $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction 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 transaction, the director owned 36,686 shares in the company, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 114,936 shares of company stock worth $3,770,348. Company insiders own 2.40% of the company’s stock.

CareDx Stock Performance

Shares of NASDAQ:CDNA opened at $48.61 on Monday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 23.48 and a beta of 2.38. The stock’s 50-day moving average price is $35.85 and its two-hundred day moving average price is $25.40. CareDx, Inc. has a 12-month low of $12.28 and a 12-month high of $49.76.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CDNA. Weiss Ratings raised CareDx from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen upgraded CareDx from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 3rd. Craig Hallum raised CareDx from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, August 3rd. BTIG Research increased their price target on shares of CareDx from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised shares of CareDx from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, CareDx presently has a consensus rating of “Moderate Buy” and a consensus price target 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.