CareDx Inc (NASDAQ:CDNA) Stock Holdings Decreased by Gagnon Advisors LLC

Gagnon Advisors LLC lessened its holdings in CareDx Inc (NASDAQ:CDNA) by 19.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 293,785 shares of the company’s stock after selling 71,570 shares during the period. CareDx makes up approximately 6.0% of Gagnon Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Gagnon Advisors LLC owned 0.69% of CareDx worth $10,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in CareDx by 4.4% in the second quarter. Wells Fargo & Company MN now owns 727,673 shares of the company’s stock valued at $26,189,000 after purchasing an additional 30,566 shares during the last quarter. Redwood Investments LLC raised its holdings in CareDx by 23.0% during the 2nd quarter. Redwood Investments LLC now owns 438,407 shares of the company’s stock valued at $15,778,000 after acquiring an additional 81,932 shares during the period. Renaissance Technologies LLC raised its holdings in CareDx by 24.6% during the 2nd quarter. Renaissance Technologies LLC now owns 332,800 shares of the company’s stock valued at $11,977,000 after acquiring an additional 65,600 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in CareDx by 29.0% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 309,655 shares of the company’s stock valued at $11,144,000 after acquiring an additional 69,535 shares during the period. Finally, Cortina Asset Management LLC raised its holdings in CareDx by 27.5% during the 2nd quarter. Cortina Asset Management LLC now owns 279,306 shares of the company’s stock valued at $10,052,000 after acquiring an additional 60,254 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.

Shares of CareDx stock traded up $0.19 during trading on Friday, hitting $22.15. The stock had a trading volume of 2,216 shares, compared to its average volume of 695,244. The firm has a market cap of $848.95 million, a price-to-earnings ratio of -16.89 and a beta of 1.04. CareDx Inc has a 12 month low of $19.11 and a 12 month high of $41.27. The business’s 50-day moving average is $26.01 and its 200 day moving average is $31.27.

CareDx (NASDAQ:CDNA) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). CareDx had a negative return on equity of 47.53% and a negative net margin of 38.29%. The firm had revenue of $31.45 million during the quarter, compared to the consensus estimate of $27.96 million. On average, sell-side analysts expect that CareDx Inc will post -0.7 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies set a $63.00 target price on shares of CareDx and gave the company a “buy” rating in a report on Thursday, August 22nd. TheStreet cut shares of CareDx from a “c” rating to a “d” rating in a report on Thursday, May 23rd. Zacks Investment Research raised shares of CareDx from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. BidaskClub cut shares of CareDx from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, Raymond James boosted their target price on shares of CareDx from $46.00 to $48.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CareDx presently has an average rating of “Buy” and a consensus target price of $44.00.

In other CareDx news, insider James P. Yee sold 20,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $37.54, for a total transaction of $750,800.00. Following the completion of the sale, the insider now directly owns 62,170 shares in the company, valued at $2,333,861.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sasha King sold 30,840 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $38.38, for a total transaction of $1,183,639.20. Following the sale, the insider now owns 72,772 shares of the company’s stock, valued at $2,792,989.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,084 shares of company stock valued at $4,288,055. Company insiders own 3.20% of the company’s stock.

CareDx Company Profile

CareDx, Inc operates as a transplant diagnostics company,which discovers, develops, and commercializes diagnostic solutions. Its product includes AlloMap, AlloSure, and Laboratory products. The company was founded on December 21, 1998 and is headquartered in Brisbane, CA.

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Institutional Ownership by Quarter for CareDx (NASDAQ:CDNA)

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