CareDx, Inc (NASDAQ:CDNA) Stake Lifted by Verition Fund Management LLC

Verition Fund Management LLC increased its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,410 shares of the company’s stock after buying an additional 2,670 shares during the quarter. Verition Fund Management LLC’s holdings in CareDx were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Royce & Associates LP grew its stake in CareDx by 0.3% during the 3rd quarter. Royce & Associates LP now owns 393,286 shares of the company’s stock worth $12,280,000 after buying an additional 1,000 shares during the last quarter. Quest Partners LLC raised its stake in shares of CareDx by 37.8% during the third quarter. Quest Partners LLC now owns 5,611 shares of the company’s stock valued at $175,000 after purchasing an additional 1,540 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in CareDx in the third quarter worth about $52,000. ClariVest Asset Management LLC grew its position in CareDx by 2.9% in the 2nd 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. Finally, nVerses Capital LLC increased its stake in CareDx by 175.0% during the 3rd quarter. nVerses Capital LLC now owns 3,300 shares of the company’s stock valued at $103,000 after buying an additional 2,100 shares during the period.

CareDx Stock Down 3.4 %

CDNA opened at $24.07 on Wednesday. The business has a fifty day simple moving average of $24.92 and a 200-day simple moving average of $23.07. The firm has a market cap of $1.29 billion, a PE ratio of -8.91 and a beta of 1.84. CareDx, Inc has a fifty-two week low of $7.42 and a fifty-two week high of $34.84.

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

Analyst Upgrades and Downgrades

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

Insider Activity at CareDx

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

About CareDx

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.