Tidal Investments LLC Lowers Holdings in CareDx, Inc (NASDAQ:CDNA)

Tidal Investments LLC trimmed its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 37.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,629 shares of the company’s stock after selling 11,149 shares during the quarter. Tidal Investments LLC’s holdings in CareDx were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of CareDx during the third quarter valued at about $27,000. Royce & Associates LP raised its position in CareDx by 0.3% in the third quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock valued at $12,280,000 after purchasing an additional 1,000 shares during the period. Quest Partners LLC lifted its stake in CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock worth $175,000 after purchasing an additional 1,540 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of CareDx during the third quarter worth $52,000. Finally, ClariVest Asset Management LLC grew its stake in shares of CareDx by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock valued at $994,000 after buying an additional 1,810 shares in the last quarter.

CareDx Trading Up 0.3 %

Shares of CareDx stock opened at $20.61 on Monday. The company has a fifty day simple moving average of $23.54 and a 200-day simple moving average of $23.52. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -7.63 and a beta of 1.84.

CareDx (NASDAQ:CDNA) last posted its earnings results on Monday, November 4th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The business had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The business’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. On average, analysts forecast that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. StockNews.com upgraded CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. BTIG Research cut their price target on CareDx from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Wells Fargo & Company started coverage on shares of CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, CareDx has an average rating of “Moderate Buy” and an average price target of $29.60.

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. This represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is owned by company insiders.

CareDx Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.