Zweig DiMenna Associates LLC Acquires 348,400 Shares of CareDx, Inc. $CDNA

Zweig DiMenna Associates LLC boosted its position in CareDx, Inc. (NASDAQ:CDNA) by 153.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 575,000 shares of the company’s stock after purchasing an additional 348,400 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in CareDx were worth $8,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in CareDx during the 2nd quarter valued at approximately $40,000. State of Alaska Department of Revenue purchased a new position in shares of CareDx during the 3rd quarter valued at approximately $43,000. Tower Research Capital LLC TRC raised its position in shares of CareDx by 120.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,608 shares of the company’s stock worth $149,000 after acquiring an additional 4,160 shares during the period. RiverPark Advisors LLC purchased a new position in CareDx during the second quarter worth approximately $149,000. Finally, AlphaQuest LLC grew its stake in CareDx by 40.0% in the 2nd quarter. AlphaQuest LLC now owns 9,576 shares of the company’s stock valued at $187,000 after acquiring an additional 2,736 shares during the period.

Insider Activity

In other news, CEO John Walter Hanna, Jr. sold 19,280 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.16, for a total transaction of $407,964.80. Following the completion of the sale, the chief executive officer owned 597,405 shares in the company, valued at approximately $12,641,089.80. The trade was a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 29,636 shares of company stock worth $625,949. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

CDNA has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Wall Street Zen cut shares of CareDx from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c-)” rating on shares of CareDx in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of CareDx from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.67.

CareDx Trading Up 2.8%

NASDAQ:CDNA opened at $19.63 on Tuesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 16.50 and a beta of 2.51. CareDx, Inc. has a 12-month low of $10.96 and a 12-month high of $25.55. The company’s 50-day moving average is $19.73 and its two-hundred day moving average is $16.45.

CareDx Company 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.