Jupiter Topco LLC Buys New Shares in CareDx, Inc. $CDNA

Jupiter Topco LLC purchased a new position in CareDx, Inc. (NASDAQ:CDNA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 339,418 shares of the company’s stock, valued at approximately $9,673,000. Jupiter Topco LLC owned approximately 0.66% of CareDx as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new position in shares of CareDx during the 2nd quarter valued at about $5,591,000. Canada Pension Plan Investment Board bought a new stake in CareDx during the 2nd quarter worth approximately $1,505,000. Parkman Healthcare Partners LLC purchased a new position in CareDx during the second quarter valued at approximately $5,769,000. Legal & General Group Plc purchased a new position in CareDx during the second quarter valued at approximately $6,041,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of CareDx in the second quarter worth approximately $382,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. William Blair upgraded shares of CareDx to a “hold” rating in a research report on Thursday, July 16th. BTIG Research increased their price target on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. HC Wainwright reissued a “neutral” rating and set a $46.00 price target on shares of CareDx in a report on Friday, July 31st. Zacks Research upgraded CareDx from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Craig Hallum upgraded CareDx from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.75.

CareDx Stock Performance

NASDAQ:CDNA opened at $49.79 on Monday. The company has a market capitalization of $2.58 billion, a P/E ratio of 24.05 and a beta of 2.38. CareDx, Inc. has a 12 month low of $12.37 and a 12 month high of $53.67. The business’s 50-day moving average is $38.41 and its 200 day moving average is $26.48.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. The business had revenue of $131.95 million during the quarter, compared to analysts’ expectations of $114.05 million. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. On average, research analysts forecast that CareDx, Inc. will post 0.47 earnings per share for the current year.

Insider Buying and Selling at CareDx

In other CareDx news, CEO John Walter Hanna, Jr. sold 39,900 shares of CareDx stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.24, for a total value of $1,166,676.00. Following the completion of the transaction, the chief executive officer directly owned 661,959 shares of the company’s stock, valued at $19,355,681.16. This trade represents a 5.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Bickerstaff sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.28, for a total transaction of $925,600.00. Following the completion of the sale, the director owned 134,061 shares in the company, valued at approximately $6,204,343.08. This trade represents a 12.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,936 shares of company stock worth $3,770,348 over the last three months. 2.40% of the stock is owned by company insiders.

CareDx Profile

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.