Renaissance Technologies LLC Has $20.56 Million Stake in CareDx, Inc. $CDNA

Renaissance Technologies LLC boosted its position in shares of CareDx, Inc. (NASDAQ:CDNA) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,184,398 shares of the company’s stock after acquiring an additional 79,200 shares during the quarter. Renaissance Technologies LLC owned 2.29% of CareDx worth $20,561,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CDNA. State Street Corp increased its stake in shares of CareDx by 6.7% during the 4th quarter. State Street Corp now owns 2,737,752 shares of the company’s stock worth $51,579,000 after purchasing an additional 171,303 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of CareDx by 11.2% in the 2nd quarter. Bamco Inc. NY now owns 2,435,657 shares of the company’s stock valued at $47,593,000 after purchasing an additional 245,651 shares during the period. Deerfield Management Company L.P. acquired a new stake in CareDx in the 3rd quarter valued at about $31,857,000. Gagnon Securities LLC lifted its stake in CareDx by 2.6% in the 4th quarter. Gagnon Securities LLC now owns 1,774,890 shares of the company’s stock valued at $33,439,000 after purchasing an additional 45,465 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in CareDx by 2.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,475,126 shares of the company’s stock worth $25,608,000 after purchasing an additional 28,510 shares during the period.

Insider Activity at CareDx

In related news, Director Hannah Valantine sold 12,103 shares of CareDx stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total transaction of $279,700.33. Following the completion of the sale, the director directly owned 36,686 shares of the company’s stock, valued at approximately $847,813.46. This trade represents a 24.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Walter Hanna, Jr. sold 39,900 shares of the company’s 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 in the company, valued at approximately $19,355,681.16. This represents a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 78,936 shares of company stock valued at $2,093,708. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CDNA has been the topic of a number of recent analyst reports. Craig Hallum reissued a “hold” rating and set a $35.00 price target on shares of CareDx in a research report on Thursday, July 16th. Weiss Ratings cut CareDx from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, July 15th. BTIG Research lifted their target price on CareDx from $28.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Wall Street Zen raised CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Finally, William Blair upgraded CareDx to a “hold” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.67.

CareDx Stock Performance

Shares of CDNA opened at $38.10 on Friday. The firm has a market cap of $1.97 billion, a P/E ratio of -238.12 and a beta of 2.43. CareDx, Inc. has a 52 week low of $11.26 and a 52 week high of $40.47. The firm’s 50-day simple moving average is $28.15 and its 200 day simple moving average is $22.46.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.15. CareDx had a negative net margin of 2.01% and a negative return on equity of 2.65%. The firm had revenue of $131.95 million during the quarter, compared to the consensus estimate of $113.83 million. During the same period last year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. As a group, equities analysts forecast that CareDx, Inc. will post 0.22 earnings per share for the current year.

CareDx Company 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.