Zweig DiMenna Associates LLC Has $12.79 Million Stock Position in CareDx, Inc. $CDNA

Zweig DiMenna Associates LLC lifted its holdings in shares of CareDx, Inc. (NASDAQ:CDNA) by 18.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 679,000 shares of the company’s stock after buying an additional 104,000 shares during the period. Zweig DiMenna Associates LLC owned about 1.32% of CareDx worth $12,792,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CDNA. Deerfield Management Company L.P. acquired a new position in shares of CareDx during the 3rd quarter worth $31,857,000. Braidwell LP acquired a new position in shares of CareDx during the 3rd quarter worth $31,738,000. Bamco Inc. NY raised its holdings in shares of CareDx by 29.5% during the 3rd quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock worth $45,876,000 after buying an additional 719,523 shares in the last quarter. Amova Asset Management Americas Inc. raised its holdings in shares of CareDx by 40.8% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,740,064 shares of the company’s stock worth $25,283,000 after buying an additional 504,473 shares in the last quarter. Finally, Aberdeen Group plc acquired a new position in shares of CareDx during the 4th quarter worth $6,506,000.

Analysts Set New Price Targets

A number of research firms have recently commented on CDNA. Wells Fargo & Company boosted their price target on CareDx from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CareDx in a report on Wednesday. BTIG Research upped their target price on CareDx from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.00.

CareDx Stock Up 0.5%

Shares of CDNA opened at $22.82 on Friday. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $23.24. The business has a 50-day simple moving average of $19.75 and a two-hundred day simple moving average of $19.15. The stock has a market cap of $1.18 billion, a PE ratio of -142.63 and a beta of 2.49.

CareDx (NASDAQ:CDNA) last issued its earnings results on Tuesday, April 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. CareDx had a negative return on equity of 2.65% and a negative net margin of 2.01%.The business had revenue of $117.70 million during the quarter, compared to analysts’ expectations of $102.03 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. On average, equities research analysts expect that CareDx, Inc. will post 0.22 EPS for the current year.

Insider Transactions at CareDx

In other news, CEO John Walter Hanna, Jr. sold 10,282 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $21.12, for a total value of $217,155.84. Following the completion of the sale, the chief executive officer owned 676,475 shares of the company’s stock, valued at approximately $14,287,152. This represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.40% of the stock is currently owned by insiders.

About CareDx

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.