Verition Fund Management LLC Raises Stake in CareDx, Inc (NASDAQ:CDNA)

Verition Fund Management LLC lifted its position in shares of CareDx, Inc (NASDAQ:CDNA) by 15.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,410 shares of the company’s stock after purchasing an additional 2,670 shares during the quarter. Verition Fund Management LLC’s holdings in CareDx were worth $606,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CDNA. Price T Rowe Associates Inc. MD grew its holdings in shares of CareDx by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,396 shares of the company’s stock worth $312,000 after purchasing an additional 2,344 shares during the period. SG Americas Securities LLC grew its holdings in shares of CareDx by 900.8% during the 2nd quarter. SG Americas Securities LLC now owns 110,416 shares of the company’s stock worth $1,715,000 after purchasing an additional 99,383 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of CareDx by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 193,994 shares of the company’s stock worth $3,013,000 after purchasing an additional 12,404 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of CareDx by 13.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,164 shares of the company’s stock worth $329,000 after purchasing an additional 2,503 shares during the period. Finally, ClariVest Asset Management LLC grew its holdings in shares of CareDx by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 64,027 shares of the company’s stock worth $994,000 after purchasing an additional 1,810 shares during the period.

Wall Street Analysts Forecast Growth

CDNA has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on CareDx in a research report on Tuesday, August 27th. They set an “underweight” rating and a $28.00 price target on the stock. StockNews.com raised CareDx from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price target on CareDx from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. Finally, BTIG Research reduced 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CareDx presently has an average rating of “Moderate Buy” and an average price target of $29.60.

CareDx Stock Down 3.4 %

Shares of CDNA opened at $24.07 on Wednesday. The business’s 50 day moving average is $24.92 and its two-hundred day moving average is $23.07. CareDx, Inc has a 52-week low of $7.42 and a 52-week high of $34.84. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -8.91 and a beta of 1.84.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, beating 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 business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $80.04 million. During the same period in the previous year, the business earned ($0.43) EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. On average, equities analysts expect that CareDx, Inc will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.

CareDx Company 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.