Tower Research Capital LLC TRC Raises Position in CareDx, Inc (NASDAQ:CDNA)

Tower Research Capital LLC TRC boosted its position in shares of CareDx, Inc (NASDAQ:CDNA) by 553.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,922 shares of the company’s stock after buying an additional 3,322 shares during the period. Tower Research Capital LLC TRC’s holdings in CareDx were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC increased its position in shares of CareDx by 771.2% during the fourth 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 in the last quarter. Plato Investment Management Ltd grew its holdings in shares of CareDx by 34.1% during the fourth 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 in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of CareDx by 41.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,343 shares of the company’s stock valued at $200,000 after buying an additional 2,742 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of CareDx in the fourth quarter worth about $208,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in CareDx during the fourth quarter worth about $214,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. HC Wainwright restated a “neutral” rating and set a $25.00 target price on shares of CareDx in a report on Monday, May 5th. StockNews.com lowered CareDx from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of CareDx in a research note on Monday, May 5th. Wells Fargo & Company raised shares of CareDx from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $28.00 to $24.00 in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group cut their price objective on shares of CareDx from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.33.

Insider Activity at CareDx

In related news, Director Peter Maag sold 13,281 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 316,743 shares of the company’s stock, valued at $5,457,481.89. The trade was a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christine Cournoyer sold 16,700 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $14.13, for a total value of $235,971.00. Following the completion of the sale, the director now directly owns 37,045 shares in the company, valued at $523,445.85. This represents a 31.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,246 shares of company stock worth $469,498. Corporate insiders own 4.90% of the company’s stock.

CareDx Stock Up 0.2 %

Shares of NASDAQ CDNA opened at $15.42 on Friday. CareDx, Inc has a 52-week low of $12.53 and a 52-week high of $34.84. The business’s 50 day moving average is $17.87 and its two-hundred day moving average is $21.16. The firm has a market cap of $858.60 million, a price-to-earnings ratio of -5.71 and a beta of 2.27.

CareDx (NASDAQ:CDNA) last posted its 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 firm had revenue of $84.69 million for the quarter, compared to analyst estimates of $84.56 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. Analysts anticipate that CareDx, Inc will post -0.9 EPS for the current fiscal year.

CareDx 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.