Quarry LP Takes Position in CareDx, Inc (NASDAQ:CDNA)

Quarry LP purchased a new position in shares of CareDx, Inc (NASDAQ:CDNA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 872 shares of the company’s stock, valued at approximately $27,000.

A number of other large investors also recently modified their holdings of CDNA. Point72 DIFC Ltd bought a new position in CareDx in the 3rd quarter valued at about $393,000. Point72 Asset Management L.P. bought a new position in CareDx in the 3rd quarter valued at $8,012,000. Janus Henderson Group PLC bought a new position in CareDx during the third quarter valued at about $684,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of CareDx during the 3rd quarter worth approximately $320,000. Finally, PDT Partners LLC purchased a new stake in CareDx in the third quarter worth $504,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com raised shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a research report on Tuesday, October 22nd. Wells Fargo & Company began coverage on shares of CareDx in a report on Tuesday, August 27th. They issued an “underweight” rating and a $28.00 price target on the stock. BTIG Research dropped their price objective on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their price target on CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Price Performance

CDNA opened at $23.50 on Friday. CareDx, Inc has a 1 year low of $7.42 and a 1 year high of $34.84. The stock’s 50 day simple moving average is $24.64 and its 200 day simple moving average is $23.08. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -8.70 and a beta of 1.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The business had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative net margin of 45.90% and a negative return on equity of 53.70%. The company’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) EPS. As a group, sell-side analysts anticipate that CareDx, Inc will post -0.7 EPS for the current year.

Insider Activity at CareDx

In other CareDx news, Director Peter Maag sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director now directly owns 330,024 shares of the company’s stock, valued at approximately $8,250,600. The trade was a 1.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

About CareDx

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.