Profund Advisors LLC Has $262,000 Stake in CareDx, Inc (NASDAQ:CDNA)

Profund Advisors LLC cut its stake in shares of CareDx, Inc (NASDAQ:CDNA) by 70.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,873 shares of the company’s stock after selling 39,510 shares during the period. Profund Advisors LLC’s holdings in CareDx were worth $262,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in CareDx by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,300,016 shares of the company’s stock worth $45,537,000 after purchasing an additional 180,334 shares during the period. Bellevue Group AG grew its position in CareDx by 0.4% during the fourth quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock worth $47,458,000 after buying an additional 13,994 shares in the last quarter. Gagnon Securities LLC increased its position in shares of CareDx by 7.1% in the first quarter. Gagnon Securities LLC now owns 2,245,529 shares of the company’s stock worth $23,780,000 after purchasing an additional 149,485 shares during the period. Renaissance Technologies LLC increased its holdings in CareDx by 6.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,700 shares of the company’s stock valued at $23,492,000 after buying an additional 88,100 shares during the period. Finally, Bamco Inc. NY acquired a new position in CareDx during the first quarter valued at approximately $13,025,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BTIG Research raised CareDx from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, August 19th. HC Wainwright reaffirmed a “neutral” rating on shares of CareDx in a research report on Thursday, August 1st. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a research note on Tuesday. Craig Hallum raised their target price on CareDx from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company started coverage on shares of CareDx in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, CareDx currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

Insider Buying and Selling at CareDx

In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at approximately $9,561,179.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction on Monday, August 19th. The stock was sold at an average price of $33.55, for a total transaction of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares of the company’s stock, valued at $9,561,179.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander L. Johnson sold 21,557 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $32.58, for a total transaction of $702,327.06. Following the completion of the transaction, the insider now owns 284,983 shares in the company, valued at $9,284,746.14. The disclosure for this sale can be found here. Insiders have sold 91,340 shares of company stock valued at $3,025,415 in the last 90 days. 4.20% of the stock is currently owned by company insiders.

CareDx Stock Performance

Shares of NASDAQ:CDNA opened at $29.70 on Friday. CareDx, Inc has a fifty-two week low of $4.80 and a fifty-two week high of $34.84. The company’s 50-day moving average is $27.31 and its 200 day moving average is $17.64. The company has a market capitalization of $1.55 billion, a P/E ratio of -8.68 and a beta of 1.77.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.37. The company had revenue of $92.27 million during the quarter, compared to the consensus estimate of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. As a group, research analysts predict that CareDx, Inc will post -0.84 earnings per share for the current year.

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.