Panoramic Capital LLC Makes New $1.67 Million Investment in CareDx, Inc (NASDAQ:CDNA)

Panoramic Capital LLC purchased a new position in shares of CareDx, Inc (NASDAQ:CDNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,061 shares of the company’s stock, valued at approximately $1,671,000. CareDx accounts for approximately 0.9% of Panoramic Capital LLC’s investment portfolio, making the stock its 26th biggest holding.

Several other large investors have also made changes to their positions in CDNA. Sterling Capital Management LLC raised its position in shares of CareDx by 771.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after buying an additional 1,126 shares during the period. Tower Research Capital LLC TRC raised its position in shares of CareDx by 553.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after buying an additional 3,322 shares during the period. Plato Investment Management Ltd raised its position in shares of CareDx by 34.1% in the 4th quarter. Plato Investment Management Ltd now owns 5,390 shares of the company’s stock worth $116,000 after buying an additional 1,370 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of CareDx by 41.5% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock worth $200,000 after buying an additional 2,742 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in CareDx in the fourth quarter valued at about $208,000.

CareDx Stock Performance

NASDAQ:CDNA opened at $16.13 on Wednesday. The company has a market capitalization of $898.13 million, a price-to-earnings ratio of -5.97 and a beta of 2.27. CareDx, Inc has a one year low of $12.90 and a one year high of $34.84. The stock has a 50-day simple moving average of $17.79 and a 200 day simple moving average of $21.09.

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

Insider Buying and Selling at CareDx

In other news, Director Peter Maag sold 13,281 shares of CareDx stock in a transaction that occurred 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 sale, the director now owns 316,743 shares of the company’s stock, valued at approximately $5,457,481.89. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christine Cournoyer sold 16,700 shares of CareDx stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $14.13, for a total transaction of $235,971.00. Following the transaction, the director now owns 37,045 shares in the company, valued at approximately $523,445.85. The trade was a 31.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,246 shares of company stock worth $469,498 over the last ninety days. Company insiders own 4.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CDNA. Wells Fargo & Company upgraded CareDx from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $28.00 to $24.00 in a research note on Wednesday, January 15th. StockNews.com cut CareDx from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of CareDx in a research note on Monday, May 5th. The Goldman Sachs Group reduced their price objective on CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, HC Wainwright restated a “neutral” rating and set a $25.00 target price on shares of CareDx in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CareDx has an average rating of “Moderate Buy” and an average price target of $30.33.

CareDx Company 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.