Renaissance Technologies LLC Has $23.49 Million Stake in CareDx, Inc (NASDAQ:CDNA)

Renaissance Technologies LLC boosted its holdings in shares of CareDx, Inc (NASDAQ:CDNA) by 6.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,512,700 shares of the company’s stock after purchasing an additional 88,100 shares during the period. Renaissance Technologies LLC owned 2.90% of CareDx worth $23,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of CareDx by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,949 shares of the company’s stock valued at $5,327,000 after buying an additional 33,767 shares during the period. BNP Paribas Financial Markets increased its stake in shares of CareDx by 2.1% in the 4th quarter. BNP Paribas Financial Markets now owns 90,258 shares of the company’s stock valued at $1,083,000 after buying an additional 1,876 shares during the period. Quest Partners LLC acquired a new stake in shares of CareDx in the 4th quarter valued at $117,000. Bellevue Group AG increased its stake in shares of CareDx by 0.4% in the 4th quarter. Bellevue Group AG now owns 3,954,792 shares of the company’s stock valued at $47,458,000 after buying an additional 13,994 shares during the period. Finally, Bullseye Asset Management LLC increased its stake in shares of CareDx by 2.9% in the 4th quarter. Bullseye Asset Management LLC now owns 174,820 shares of the company’s stock valued at $2,098,000 after buying an additional 5,000 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Craig Hallum lifted their target price on CareDx from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. HC Wainwright reissued a “neutral” rating on shares of CareDx in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their target price on CareDx from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. 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. Finally, Wells Fargo & Company started coverage on CareDx in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.80.

Insiders Place Their Bets

In other CareDx news, insider Alexander L. Johnson sold 34,231 shares of CareDx stock in a transaction dated 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 transaction, the insider now directly owns 284,983 shares in the company, valued at $9,561,179.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Peter Maag sold 35,552 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $33.04, for a total value of $1,174,638.08. Following the sale, the director now directly owns 330,024 shares in the company, valued at $10,903,992.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander L. Johnson sold 34,231 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $33.55, for a total value of $1,148,450.05. Following the completion of the sale, the insider now owns 284,983 shares in the company, valued at $9,561,179.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,340 shares of company stock worth $3,025,415. Corporate insiders own 4.20% of the company’s stock.

CareDx Trading Up 2.1 %

CDNA stock opened at $29.88 on Friday. The business’s 50-day moving average price is $25.93 and its two-hundred day moving average price is $16.92. The firm has a market cap of $1.56 billion, a PE ratio of -8.74 and a beta of 1.77. CareDx, Inc has a 1-year low of $4.80 and a 1-year high of $34.84.

CareDx (NASDAQ:CDNA) last posted its 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 firm had revenue of $92.27 million for the quarter, compared to analyst estimates of $67.20 million. CareDx had a negative return on equity of 53.65% and a negative net margin of 53.73%. On average, analysts forecast 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.