Quantinno Capital Management LP Buys New Position in CareDx, Inc. $CDNA

Quantinno Capital Management LP purchased a new position in shares of CareDx, Inc. (NASDAQ:CDNA) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 17,166 shares of the company’s stock, valued at approximately $298,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in CareDx by 7.2% in the first quarter. Renaissance Technologies LLC now owns 1,184,398 shares of the company’s stock valued at $20,561,000 after acquiring an additional 79,200 shares in the last quarter. Globeflex Capital L P lifted its position in shares of CareDx by 49.4% during the first quarter. Globeflex Capital L P now owns 119,252 shares of the company’s stock worth $2,070,000 after purchasing an additional 39,457 shares in the last quarter. State of Wyoming lifted its position in shares of CareDx by 185.2% during the first quarter. State of Wyoming now owns 23,537 shares of the company’s stock worth $409,000 after purchasing an additional 15,284 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in shares of CareDx by 2.0% in the first quarter. Amova Asset Management Americas Inc. now owns 1,475,126 shares of the company’s stock valued at $25,608,000 after purchasing an additional 28,510 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of CareDx by 92.3% in the first quarter. Meeder Asset Management Inc. now owns 8,067 shares of the company’s stock valued at $140,000 after purchasing an additional 3,871 shares during the period.

Insider Transactions at CareDx

In other news, Director Hannah Valantine sold 12,103 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $23.11, for a total value of $279,700.33. Following the completion of the sale, the director directly owned 36,686 shares in the company, valued at approximately $847,813.46. The trade was a 24.81% 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. Also, Director Christine Cournoyer sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $46.94, for a total value of $751,040.00. Following the sale, the director directly owned 42,943 shares in the company, valued at approximately $2,015,744.42. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 114,936 shares of company stock worth $3,770,348 in the last quarter. Insiders own 2.40% of the company’s stock.

CareDx Stock Performance

Shares of CareDx stock opened at $48.61 on Monday. CareDx, Inc. has a 1 year low of $12.28 and a 1 year high of $49.76. The firm’s 50-day simple moving average is $35.85 and its 200-day simple moving average is $25.40. The firm has a market cap of $2.51 billion, a PE ratio of 23.48 and a beta of 2.38.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.14. CareDx had a return on equity of 2.87% and a net margin of 24.23%.The firm had revenue of $131.95 million during the quarter, compared to analyst estimates of $114.05 million. During the same period in the previous year, the company earned ($0.16) earnings per share. CareDx’s quarterly revenue was up 52.2% on a year-over-year basis. On average, equities analysts predict that CareDx, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CDNA shares. Wall Street Zen raised shares of CareDx from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 3rd. Craig Hallum raised shares of CareDx from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, August 3rd. HC Wainwright restated a “neutral” rating and set a $46.00 target price on shares of CareDx in a research note on Friday, July 31st. BTIG Research lifted their target price on CareDx from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded CareDx from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.75.

CareDx Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non?invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post?transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor?derived cell?free DNA assay used primarily in kidney transplant monitoring.