CareDx, Inc. $CDNA Stock: Gagnon Advisors LLC Trims Stake

Gagnon Advisors LLC trimmed its position in CareDx, Inc. (NASDAQ:CDNA) by 47.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,889 shares of the company’s stock after selling 260,004 shares during the quarter. CareDx accounts for 10.2% of Gagnon Advisors LLC’s holdings, making the stock its biggest holding. Gagnon Advisors LLC’s holdings in CareDx were worth $18,648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC bought a new position in CareDx during the 3rd quarter worth $8,463,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of CareDx by 4.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,000 shares of the company’s stock worth $1,523,000 after buying an additional 961 shares in the last quarter. Ethic Inc. bought a new stake in shares of CareDx in the third quarter valued at about $379,000. Alps Advisors Inc. bought a new stake in shares of CareDx in the third quarter valued at about $720,000. Finally, Calamos Advisors LLC bought a new stake in shares of CareDx in the third quarter valued at about $225,000.

Analysts Set New Price Targets

CDNA has been the topic of several research reports. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of CareDx in a research note on Friday, July 31st. Wall Street Zen cut shares of CareDx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Canaccord Genuity Group set a $99.00 price objective on shares of CareDx in a report on Friday, October 30th. BTIG Research increased their target price on shares of CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of CareDx from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, CareDx has an average rating of “Moderate Buy” and a consensus target price of $70.33.

CareDx Price Performance

CareDx stock opened at $79.81 on Friday. The firm has a market cap of $4.19 billion, a PE ratio of 122.99 and a beta of 2.51. The stock’s fifty day moving average price is $65.78 and its two-hundred day moving average price is $36.42. CareDx, Inc. has a one year low of $15.15 and a one year high of $90.87.

CareDx (NASDAQ:CDNA) last released its earnings results on Thursday, October 29th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.45. The firm had revenue of $139.36 million during the quarter, compared to the consensus estimate of $121.96 million. CareDx had a return on equity of 9.74% and a net margin of 25.86%. The company’s revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Sell-side analysts expect that CareDx, Inc. will post 1.00 earnings per share for the current fiscal year.

Insider Activity at CareDx

In related news, CFO Keith Kennedy sold 61,961 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $77.82, for a total value of $4,821,805.02. Following the completion of the transaction, the chief financial officer owned 199,147 shares of the company’s stock, valued at $15,497,619.54. The trade was a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.40% of the company’s stock.

CareDx Profile

CareDx, Inc. is a precision medicine company focused on organ transplantation. It develops and provides diagnostic tests and related services to help clinicians assess transplant recipients and monitor their health over time. Its offerings include AlloSure, a donor-derived cell-free DNA test used to help monitor for organ rejection, and AlloMap, a gene-expression test used in heart transplant care. CareDx also provides histocompatibility testing, clinical tools, and services designed to support patients and transplant care teams.