Jacobs Levy Equity Management Inc. Buys 428,864 Shares of CareDx, Inc (NASDAQ:CDNA)

Jacobs Levy Equity Management Inc. raised its holdings in CareDx, Inc (NASDAQ:CDNA) by 52.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,243,580 shares of the company’s stock after buying an additional 428,864 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in CareDx were worth $26,625,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CDNA. Barclays PLC grew its position in CareDx by 123.8% in the 3rd quarter. Barclays PLC now owns 98,505 shares of the company’s stock valued at $3,075,000 after acquiring an additional 54,482 shares during the last quarter. Franklin Resources Inc. grew its position in CareDx by 34.4% in the 3rd quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock valued at $1,862,000 after acquiring an additional 15,238 shares during the last quarter. ARS Investment Partners LLC grew its position in CareDx by 6.3% in the 4th quarter. ARS Investment Partners LLC now owns 101,968 shares of the company’s stock valued at $2,183,000 after acquiring an additional 6,083 shares during the last quarter. SG Americas Securities LLC grew its position in CareDx by 31.0% in the 4th quarter. SG Americas Securities LLC now owns 24,087 shares of the company’s stock valued at $516,000 after acquiring an additional 5,706 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in CareDx by 6.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,107 shares of the company’s stock valued at $623,000 after acquiring an additional 1,816 shares during the last quarter.

CareDx Trading Up 0.2%

CDNA opened at $15.42 on Monday. CareDx, Inc has a 12-month low of $12.90 and a 12-month high of $34.84. The business’s fifty day simple moving average is $17.87 and its 200-day simple moving average is $21.13. The company has a market capitalization of $858.60 million, a price-to-earnings ratio of -5.71 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. On average, equities research analysts predict that CareDx, Inc will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company raised CareDx from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of CareDx in a research report on Monday, May 5th. HC Wainwright reissued a “neutral” rating and set a $25.00 price target on shares of CareDx in a research report on Monday, May 5th. The Goldman Sachs Group dropped their price target on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com downgraded CareDx from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Insider Buying and Selling

In related news, Director Peter Maag sold 13,281 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $17.23, for a total transaction of $228,831.63. Following the completion of the sale, the director now directly owns 316,743 shares in the company, valued at $5,457,481.89. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christine Cournoyer sold 16,700 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total value of $235,971.00. Following the sale, the director now owns 37,045 shares of the company’s stock, valued at $523,445.85. This trade represents a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,246 shares of company stock worth $469,498 in the last three months. 4.90% of the stock is owned by 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.