Lisanti Capital Growth LLC Makes New $8.46 Million Investment in CareDx, Inc. $CDNA

Lisanti Capital Growth LLC bought a new position in shares of CareDx, Inc. (NASDAQ:CDNA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 130,200 shares of the company’s stock, valued at approximately $8,463,000. CareDx comprises approximately 2.3% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 5th biggest holding. Lisanti Capital Growth LLC owned 0.25% of CareDx at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in CareDx by 4.4% in the 3rd 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 during the period. Ethic Inc. purchased a new stake in CareDx in the 3rd quarter valued at about $379,000. Alps Advisors Inc. purchased a new stake in CareDx in the 3rd quarter valued at about $720,000. Calamos Advisors LLC purchased a new stake in CareDx in the 3rd quarter valued at about $225,000. Finally, Profund Advisors LLC grew its stake in CareDx by 23.7% in the 3rd quarter. Profund Advisors LLC now owns 20,441 shares of the company’s stock worth $1,329,000 after acquiring an additional 3,923 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDNA. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 target price on shares of CareDx in a research report on Friday, July 31st. Canaccord Genuity Group set a $99.00 price target on CareDx in a report on Friday, October 30th. Piper Sandler started coverage on CareDx in a research note on Wednesday. They issued an “overweight” rating and a $100.00 price objective on the stock. BTIG Research increased their price objective on CareDx from $81.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Finally, Wall Street Zen downgraded CareDx from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. One 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 company’s stock. Based on data from MarketBeat, CareDx presently has an average rating of “Moderate Buy” and an average price target of $70.33.

CareDx Stock Performance

NASDAQ:CDNA opened at $81.17 on Thursday. CareDx, Inc. has a one year low of $15.15 and a one year high of $90.87. The firm has a market cap of $4.26 billion, a P/E ratio of 33.96 and a beta of 2.51. The firm has a 50-day simple moving average of $65.18 and a 200-day simple moving average of $36.12.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.45. The firm had revenue of $139.36 million during the quarter, compared to analysts’ expectations of $121.96 million. CareDx had a net margin of 25.86% and a return on equity of 9.74%. The company’s revenue was up 39.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. On average, research analysts predict that CareDx, Inc. will post 0.99 EPS for the current fiscal year.

Insider Transactions at CareDx

In other CareDx news, CFO Keith Kennedy sold 61,961 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $77.82, for a total transaction of $4,821,805.02. Following the sale, the chief financial officer owned 199,147 shares of the company’s stock, valued at approximately $15,497,619.54. This trade represents a 23.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.