Premier Fund Managers Ltd Invests $363,000 in CareDx, Inc. (NASDAQ:CDNA)

Premier Fund Managers Ltd purchased a new position in shares of CareDx, Inc. (NASDAQ:CDNA) during the 1st quarter, HoldingsChannel reports. The firm purchased 20,226 shares of the company’s stock, valued at approximately $363,000.

Several other hedge funds also recently modified their holdings of CDNA. Sterling Capital Management LLC increased its stake in shares of CareDx by 771.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,272 shares of the company’s stock worth $27,000 after purchasing an additional 1,126 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of CareDx by 553.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,922 shares of the company’s stock worth $84,000 after purchasing an additional 3,322 shares during the last quarter. State of Wyoming acquired a new position in CareDx in the 4th quarter valued at $91,000. Morse Asset Management Inc bought a new position in CareDx in the 1st quarter worth $103,000. Finally, Balance Wealth LLC bought a new position in CareDx in the 1st quarter worth $189,000.

CareDx Price Performance

NASDAQ CDNA opened at $12.72 on Wednesday. The firm has a market capitalization of $708.25 million, a price-to-earnings ratio of 11.06 and a beta of 2.19. The company’s fifty day moving average is $17.68 and its two-hundred day moving average is $19.02. CareDx, Inc. has a 52-week low of $10.96 and a 52-week high of $34.84.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a net margin of 19.79% and a return on equity of 21.16%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that CareDx, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at CareDx

In other news, Director Christine Cournoyer sold 29,136 shares of CareDx stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.96, for a total transaction of $465,010.56. Following the sale, the director directly owned 37,045 shares in the company, valued at approximately $591,238.20. The trade was a 44.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hannah Valantine sold 10,570 shares of CareDx stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $19.16, for a total transaction of $202,521.20. Following the sale, the director owned 38,994 shares in the company, valued at approximately $747,125.04. This trade represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,797 shares of company stock valued at $2,191,084. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HC Wainwright reiterated a “neutral” rating and issued a $25.00 target price on shares of CareDx in a report on Monday, May 5th. Craig Hallum dropped their target price on shares of CareDx from $40.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Wall Street Zen downgraded shares of CareDx from a “buy” rating to a “hold” rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their target price on shares of CareDx from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of CareDx in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.33.

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.