Braidwell LP Makes New Investment in CareDx, Inc. $CDNA

by · The Markets Daily

Braidwell LP purchased a new position in CareDx, Inc. (NASDAQ:CDNA – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,182,781 shares of the company’s stock, valued at approximately $31,738,000. Braidwell LP owned about 4.24% of CareDx at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bamco Inc. NY increased its holdings in CareDx by 11.2% in the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock worth $47,593,000 after buying an additional 245,651 shares in the last quarter. Deerfield Management Company L.P. purchased a new position in CareDx in the 3rd quarter worth about $31,857,000. ARK Investment Management LLC lifted its stake in CareDx by 3.4% during the 3rd quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock valued at $31,561,000 after acquiring an additional 70,468 shares during the period. Ophir Asset Management Pty Ltd lifted its stake in CareDx by 17.0% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock valued at $36,989,000 after acquiring an additional 274,625 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in shares of CareDx by 11.5% during the 2nd quarter. Hood River Capital Management LLC now owns 1,765,981 shares of the company’s stock valued at $34,507,000 after acquiring an additional 182,025 shares during the last quarter.

Analysts Set New Price Targets

CDNA has been the subject of a number of research analyst reports. BTIG Research lifted their price target on shares of CareDx from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Wells Fargo & Company raised their target price on shares of CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of CareDx from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, February 27th. Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.33.

Check Out Our Latest Stock Report on CDNA

CareDx Stock Up 3.4%

Shares of NASDAQ:CDNA opened at $17.01 on Friday. The stock has a market capitalization of $871.25 million, a PE ratio of -42.53 and a beta of 2.52. The firm’s 50 day moving average price is $19.33 and its 200-day moving average price is $17.24. CareDx, Inc. has a twelve month low of $10.96 and a twelve month high of $21.49.

CareDx (NASDAQ:CDNA – Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.12). CareDx had a negative net margin of 5.65% and a negative return on equity of 6.50%. The business had revenue of $108.39 million for the quarter, compared to the consensus estimate of $102.76 million. During the same quarter last year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. Analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares of the company’s stock, valued at $12,641,089.80. The trade was a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 29,636 shares of company stock worth $625,949. Insiders own 4.40% of the company’s stock.

About CareDx

(Free Report)

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.

See Also

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